Swiss National Bank Buys Shares of 81,000 AxoGen, Inc. $AXGN

Key Points

• Swiss National Bank has acquired 81,000 shares of AxoGen, Inc., valued at approximately $1.5 million, representing about 0.18% of the company as of their latest SEC filing.
• Analysts have given AxoGen an average rating of "Buy", with a revised price target of $24.00 from Canaccord Genuity and an upgrade from Wall Street Zen.
• AxoGen's stock has shown a significant rise of 2.7%, with its current trading value at $16.26 following a period of increased institutional investment activity.

Swiss National Bank purchased a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 81,000 shares of the medical equipment provider's stock, valued at approximately $1,498,000. Swiss National Bank owned about 0.18% of AxoGen as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in AXGN. Driehaus Capital Management LLC boosted its stake in AxoGen by 166.0% during the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider's stock valued at $15,729,000 after purchasing an additional 595,579 shares during the last quarter. First Light Asset Management LLC raised its holdings 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 period. Balyasny Asset Management L.P. bought a new stake in AxoGen during the 4th quarter valued at $4,943,000. Assenagon Asset Management S.A. raised its holdings in AxoGen by 21.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider's stock valued at $18,523,000 after acquiring an additional 174,681 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in AxoGen by 86.2% during the 4th quarter. Ameriprise Financial Inc. now owns 291,590 shares of the medical equipment provider's stock valued at $4,805,000 after acquiring an additional 135,026 shares during the period. Institutional investors and hedge funds own 80.29% of the company's stock.

Analyst Ratings Changes

AXGN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Canaccord Genuity Group reduced their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AxoGen has an average rating of "Buy" and a consensus target price of $26.00.

AxoGen Price Performance

NASDAQ:AXGN traded down $0.16 during midday trading on Friday, hitting $16.07. The company had a trading volume of 979,865 shares, compared to its average volume of 821,659. The stock's fifty day moving average price is $12.89 and its 200-day moving average price is $14.44. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week high of $21.00. The company has a market capitalization of $739.15 million, a PE ratio of -160.98 and a beta of 1.00.

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.