Driehaus Capital Management LLC Acquires 595,579 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Driehaus Capital Management LLC raised its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 166.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 954,439 shares of the medical equipment provider's stock after purchasing an additional 595,579 shares during the period. Driehaus Capital Management LLC owned about 2.17% of AxoGen worth $15,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AXGN. First Light Asset Management LLC increased its position in shares of AxoGen by 10.2% in the 4th quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider's stock worth $74,272,000 after purchasing an additional 416,499 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in AxoGen by 13.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider's stock valued at $12,735,000 after buying an additional 91,984 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after buying an additional 530,775 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AxoGen by 14.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider's stock worth $6,866,000 after acquiring an additional 52,846 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of AxoGen by 1.5% in the 4th quarter. Northern Trust Corp now owns 383,127 shares of the medical equipment provider's stock valued at $6,314,000 after acquiring an additional 5,838 shares during the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Up 6.9%

AXGN traded up $0.75 on Wednesday, reaching $11.63. 502,589 shares of the company traded hands, compared to its average volume of 455,051. The company has a market cap of $529.57 million, a price-to-earnings ratio of -36.34 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. The stock's 50 day moving average price is $16.47 and its 200-day moving average price is $16.28. AxoGen, Inc. has a 52-week low of $5.65 and a 52-week high of $21.00.

Insider Activity

In other news, 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 transaction of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares of the company's stock, valued at $3,810,835. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company's stock, valued at approximately $1,959,937.98. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.