Advisor Resource Council Buys New Shares in AxoGen, Inc. (NASDAQ:AXGN)

Advisor Resource Council acquired a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 121,030 shares of the medical equipment provider's stock, valued at approximately $2,137,000. Advisor Resource Council owned 0.27% of AxoGen as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE bought a new position in shares of AxoGen during the fourth quarter valued at $30,000. State of Wyoming purchased a new stake in AxoGen during the 4th quarter valued at about $31,000. Fifth Third Bancorp bought a new stake in AxoGen during the 1st quarter valued at about $92,000. Harvest Fund Management Co. Ltd bought a new stake in AxoGen during the 4th quarter valued at about $93,000. Finally, GAMMA Investing LLC raised its holdings in AxoGen by 3,884.6% in the first quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock worth $105,000 after buying an additional 5,555 shares during the last quarter. Institutional investors own 80.29% of the company's stock.

AxoGen Stock Performance

AXGN stock traded up $0.44 on Friday, hitting $9.73. The company had a trading volume of 892,651 shares, compared to its average volume of 482,025. The company has a current ratio of 4.28, a quick ratio of 2.65 and a debt-to-equity ratio of 0.63. AxoGen, Inc. has a 12-month low of $6.91 and a 12-month high of $21.00. The stock has a market cap of $443.10 million, a price-to-earnings ratio of -64.86 and a beta of 1.06. The stock's 50-day simple moving average is $12.73 and its 200 day simple moving average is $15.72.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXGN. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Lake Street Capital began coverage on AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $22.20.

Insider Transactions at AxoGen

In other AxoGen news, Director Joseph A. Tyndall sold 20,062 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total value of $224,694.40. Following the transaction, the director now directly owns 15,345 shares of the company's stock, valued at approximately $171,864. This trade represents a 56.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.78% of the company's stock.

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.