The Manufacturers Life Insurance Company Sells 1,016 Shares of AxoGen, Inc. (NASDAQ:AXGN)

The Manufacturers Life Insurance Company lowered its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,539 shares of the medical equipment provider’s stock after selling 1,016 shares during the period. The Manufacturers Life Insurance Company’s holdings in AxoGen were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Oberweis Asset Management Inc. increased its stake in shares of AxoGen by 31.8% during the fourth quarter. Oberweis Asset Management Inc. now owns 300,500 shares of the medical equipment provider’s stock worth $4,952,000 after purchasing an additional 72,500 shares during the period. Price T Rowe Associates Inc. MD increased its stake in AxoGen by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,820 shares of the medical equipment provider’s stock worth $574,000 after acquiring an additional 3,220 shares during the period. MetLife Investment Management LLC increased its stake in AxoGen by 9.8% during the 4th quarter. MetLife Investment Management LLC now owns 26,034 shares of the medical equipment provider’s stock worth $429,000 after acquiring an additional 2,319 shares during the period. Dimensional Fund Advisors LP increased its stake in AxoGen by 13.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock worth $12,735,000 after acquiring an additional 91,984 shares during the period. Finally, XTX Topco Ltd bought a new position in AxoGen during the 4th quarter worth $285,000. Institutional investors own 80.29% of the company’s stock.

Insider Activity

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now directly owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. The trade was a 4.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AXGN shares. Cantor Fitzgerald restated an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Lake Street Capital started coverage on AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity Group lowered their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.20.

AxoGen Trading Up 0.4%

Shares of AXGN opened at $11.83 on Monday. AxoGen, Inc. has a 52-week low of $5.90 and a 52-week high of $21.00. The business’s fifty day moving average is $16.13 and its 200-day moving average is $16.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The firm has a market cap of $538.79 million, a price-to-earnings ratio of -36.97 and a beta of 1.19.

About AxoGen

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.