Acadian Asset Management LLC Increases Stock Position 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 grew its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 41.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,812 shares of the medical equipment provider's stock after purchasing an additional 65,929 shares during the period. Acadian Asset Management LLC owned about 0.50% of AxoGen worth $4,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AXGN. Northern Trust Corp raised its holdings in shares of AxoGen by 1.5% in the fourth quarter. Northern Trust Corp now owns 383,127 shares of the medical equipment provider's stock valued at $6,314,000 after purchasing an additional 5,838 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AxoGen by 86.2% in the fourth quarter. Ameriprise Financial Inc. now owns 291,590 shares of the medical equipment provider's stock valued at $4,805,000 after purchasing an additional 135,026 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of AxoGen in the fourth quarter valued at about $212,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AxoGen by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock valued at $398,000 after purchasing an additional 926 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of AxoGen in the fourth quarter valued at about $197,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

Analyst Ratings Changes

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

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $16.41 on Monday. 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 capitalization of $755.02 million, a PE ratio of -164.08 and a beta of 1.02. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $21.00. The company has a 50-day moving average price of $14.12 and a two-hundred day moving average price of $14.20.

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.

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