Advisor Resource Council Makes New Investment in AxoGen, Inc. (NASDAQ:AXGN)

Advisor Resource Council bought a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 121,030 shares of the medical equipment provider's stock, valued at approximately $2,137,000. Advisor Resource Council owned about 0.27% of AxoGen at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AXGN. Divisadero Street Capital Management LP boosted its position in shares of AxoGen by 2.7% during the fourth quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider's stock valued at $444,000 after buying an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AxoGen by 4.0% during 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 period. Principal Financial Group Inc. grew its holdings in shares of AxoGen by 8.3% in the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock worth $264,000 after purchasing an additional 1,228 shares during the last quarter. Rhumbline Advisers grew its stake in AxoGen by 2.7% in the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock worth $960,000 after acquiring an additional 1,521 shares in the last quarter. Finally, US Bancorp DE bought a new position in AxoGen in the 4th quarter worth about $30,000. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AXGN. Lake Street Capital initiated coverage on AxoGen in a report on Monday, March 17th. They set a "buy" rating and a $30.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group decreased their price objective on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $22.20.

Insider Transactions at AxoGen

In related news, Director Joseph A. Tyndall sold 20,062 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the transaction, the director now directly owns 15,345 shares of the company's stock, valued at $171,864. This trade represents a 56.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.78% of the company's stock.

AxoGen Stock Up 3.7%

AXGN traded up $0.36 during trading on Tuesday, hitting $10.15. The stock had a trading volume of 621,200 shares, compared to its average volume of 482,024. The stock has a 50 day simple moving average of $12.60 and a two-hundred day simple moving average of $15.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.65 and a current ratio of 4.28. AxoGen, Inc. has a twelve month low of $6.91 and a twelve month high of $21.00. The company has a market capitalization of $462.23 million, a PE ratio of -67.66 and a beta of 1.06.

AxoGen Profile

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.