DAFNA Capital Management LLC Has $13.96 Million Position in AxoGen, Inc. (NASDAQ:AXGN)

DAFNA Capital Management LLC lowered its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 846,882 shares of the medical equipment provider's stock after selling 89,012 shares during the quarter. AxoGen comprises approximately 3.5% of DAFNA Capital Management LLC's investment portfolio, making the stock its 8th largest holding. DAFNA Capital Management LLC owned about 1.92% of AxoGen worth $13,957,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in AxoGen during the fourth quarter worth about $30,000. US Bancorp DE purchased a new position in shares of AxoGen during the 4th quarter worth approximately $30,000. Harvest Fund Management Co. Ltd acquired a new stake in AxoGen in the 4th quarter valued at about $93,000. Fox Run Management L.L.C. purchased a new position in shares of AxoGen during the 4th quarter worth $169,000. Finally, Sei Investments Co. purchased a new stake in shares of AxoGen during the 4th quarter worth about $188,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Stock Down 6.0%

AXGN stock traded down $0.68 during midday trading on Tuesday, reaching $10.71. 457,489 shares of the company's stock traded hands, compared to its average volume of 450,826. AxoGen, Inc. has a 52 week low of $5.65 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. The firm's fifty day moving average price is $16.61 and its 200-day moving average price is $16.32. The company has a market cap of $487.68 million, a price-to-earnings ratio of -33.47 and a beta of 1.19.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AXGN shares. Canaccord Genuity Group cut their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday. Lake Street Capital started coverage on shares of AxoGen in a research note on Monday, March 17th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen currently has an average rating of "Buy" and a consensus target price of $22.20.

Insiders Place Their Bets

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction 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. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the sale, the director now directly owns 97,899 shares of the company's stock, valued at $1,959,937.98. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

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.