Wells Fargo & Company MN Acquires 6,753 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Wells Fargo & Company MN lifted its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 26.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,760 shares of the medical equipment provider’s stock after purchasing an additional 6,753 shares during the period. Wells Fargo & Company MN owned about 0.07% of AxoGen worth $540,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of AxoGen by 8.3% during the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after buying an additional 1,228 shares during the last quarter. Rhumbline Advisers boosted its holdings in AxoGen by 2.7% during the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after acquiring an additional 1,521 shares during the period. R Squared Ltd bought a new position in AxoGen during the 4th quarter worth approximately $30,000. US Bancorp DE purchased a new position in AxoGen in the 4th quarter worth approximately $30,000. Finally, Bradley Foster & Sargent Inc. CT lifted its position in AxoGen by 3.7% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 84,153 shares of the medical equipment provider’s stock valued at $1,387,000 after purchasing an additional 2,989 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now directly owns 97,899 shares in the company, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AXGN. Lake Street Capital started coverage on shares of AxoGen in a report on Monday, March 17th. They issued a “buy” rating and a $30.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group upped their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen currently has a consensus rating of “Buy” and an average price target of $22.60.

AxoGen Price Performance

Shares of AxoGen stock opened at $17.13 on Friday. The company has a market cap of $759.61 million, a PE ratio of -53.53 and a beta of 1.19. The business has a 50 day moving average of $17.21 and a 200 day moving average of $16.25. AxoGen, Inc. has a 52 week low of $5.55 and a 52 week high of $21.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.