AxoGen, Inc. (NASDAQ:AXGN) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its position in AxoGen, Inc. (NASDAQ:AXGN) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,264 shares of the medical equipment provider’s stock after purchasing an additional 2,032 shares during the period. Rhumbline Advisers owned approximately 0.14% of AxoGen worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of AxoGen by 3,884.6% during the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider’s stock worth $105,000 after acquiring an additional 5,555 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of AxoGen by 86.7% during the 4th quarter. Squarepoint Ops LLC now owns 55,668 shares of the medical equipment provider’s stock valued at $917,000 after buying an additional 25,853 shares during the last quarter. State of Wyoming bought a new position in AxoGen during the fourth quarter valued at approximately $31,000. ProShare Advisors LLC acquired a new position in shares of AxoGen during the 4th quarter worth $197,000. Finally, Nicholas Investment Partners LP increased its position in AxoGen by 49.9% during the fourth quarter. Nicholas Investment Partners LP now owns 295,554 shares of the medical equipment provider’s stock worth $4,871,000 after buying an additional 98,419 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Down 2.5%

AxoGen stock opened at $9.29 on Friday. The stock has a market capitalization of $423.07 million, a PE ratio of -61.93 and a beta of 1.05. AxoGen, Inc. has a twelve month low of $6.59 and a twelve month high of $21.00. The company has a 50 day moving average of $12.85 and a 200-day moving average of $15.74. The company has a quick ratio of 2.65, a current ratio of 4.28 and a debt-to-equity ratio of 0.63.

Analyst Ratings Changes

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

Insider Transactions at AxoGen

In related news, Director Joseph A. Tyndall sold 20,062 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the sale, the director now directly owns 15,345 shares in the company, valued at approximately $171,864. This trade represents a 56.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.78% of the stock is currently owned by insiders.

AxoGen 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.