Acadian Asset Management LLC Boosts Stake in AxoGen, Inc. $AXGN

Key Points

• Acadian Asset Management LLC increased its stake in AxoGen, Inc. by 41.0%, owning 226,812 shares valued at approximately $4.19 million at the end of the last reporting period.
• Several institutional investors have also adjusted their positions, with Ameriprise Financial Inc. raising its holdings by 86.2%, demonstrating growing interest in AxoGen.
• AxoGen shares received a rating upgrade from hold to buy by analysts, with an average price target set at $26.00.

Acadian Asset Management LLC raised its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 41.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 226,812 shares of the medical equipment provider's stock after acquiring an additional 65,929 shares during the period. Acadian Asset Management LLC owned approximately 0.50% of AxoGen worth $4,194,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in AxoGen by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock valued at $46,964,000 after acquiring an additional 112,679 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in AxoGen by 22.8% in the 1st quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider's stock valued at $21,683,000 after acquiring an additional 217,590 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in AxoGen by 21.1% in 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 last quarter. Parkman Healthcare Partners LLC raised its holdings in AxoGen by 46.8% in the 1st quarter. Parkman Healthcare Partners LLC now owns 536,832 shares of the medical equipment provider's stock valued at $9,931,000 after acquiring an additional 171,129 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in 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. Institutional investors and hedge funds own 80.29% of the company's stock.

AxoGen Trading Down 0.3%

Shares of AxoGen stock traded down $0.06 during mid-day trading on Friday, hitting $17.20. The stock had a trading volume of 997,621 shares, compared to its average volume of 1,084,691. The firm has a 50-day moving average of $14.63 and a two-hundred day moving average of $14.18. AxoGen, Inc. has a 12-month low of $9.22 and a 12-month high of $21.00. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59. The firm has a market cap of $791.37 million, a P/E ratio of -171.98 and a beta of 1.03.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $26.00.

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.