ArrowMark Colorado Holdings LLC lowered its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,248,792 shares of the medical equipment provider's stock after selling 26,671 shares during the period. ArrowMark Colorado Holdings LLC owned 5.11% of AxoGen worth $37,060,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of AXGN. Principal Financial Group Inc. purchased a new position in AxoGen in the 3rd quarter valued at approximately $207,000. JPMorgan Chase & Co. lifted its stake in AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after purchasing an additional 530,775 shares in the last quarter. Barclays PLC boosted its stake in AxoGen by 119.3% during the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider's stock valued at $1,010,000 after buying an additional 39,182 shares during the period. Sei Investments Co. purchased a new position in shares of AxoGen during the fourth quarter worth about $188,000. Finally, New York State Common Retirement Fund raised its stake in AxoGen by 63.7% in the fourth quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider's stock valued at $1,147,000 after purchasing an additional 27,101 shares in the last quarter. Hedge funds and other institutional investors own 80.29% of the company's stock.
AxoGen Trading Down 2.0 %
AxoGen stock traded down $0.34 during mid-day trading on Tuesday, hitting $16.41. The company's stock had a trading volume of 402,496 shares, compared to its average volume of 432,034. The business has a 50 day moving average price of $17.10 and a 200-day moving average price of $16.31. AxoGen, Inc. has a 12 month low of $5.65 and a 12 month high of $21.00. The stock has a market cap of $727.77 million, a price-to-earnings ratio of -51.29 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.
Insider Activity at AxoGen
In other news, Director Amy Mcbride Wendell sold 5,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company's stock, valued at approximately $1,959,937.98. This represents a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the firm's 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 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 disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have recently commented on AXGN shares. Lake Street Capital assumed coverage on shares of AxoGen in a report on Monday, March 17th. They issued a "buy" rating and a $30.00 price target on the stock. Canaccord Genuity Group raised their price target on AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $22.60.
Read Our Latest Stock Analysis on AxoGen
About AxoGen
(
Free Report)
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.
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