Ameriprise Financial Inc. Buys 135,026 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Ameriprise Financial Inc. increased its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 86.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 291,590 shares of the medical equipment provider's stock after acquiring an additional 135,026 shares during the period. Ameriprise Financial Inc. owned about 0.66% of AxoGen worth $4,805,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in AxoGen in the 4th quarter worth approximately $30,000. US Bancorp DE purchased a new position in AxoGen in the 4th quarter worth $30,000. Harvest Fund Management Co. Ltd bought a new stake in AxoGen in the fourth quarter worth $93,000. Fox Run Management L.L.C. bought a new stake in AxoGen in the fourth quarter worth $169,000. Finally, Sei Investments Co. purchased a new stake in AxoGen during the fourth quarter valued at about $188,000. Institutional investors own 80.29% of the company's stock.

Insider Buying and Selling

In related news, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the transaction, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. This trade represents a 6.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph A. Tyndall sold 20,062 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total transaction of $224,694.40. Following the sale, the director now directly owns 15,345 shares in the company, valued at $171,864. The trade was a 56.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,173 shares of company stock valued at $589,237 over the last three months. Corporate insiders own 2.78% of the company's stock.

Wall Street Analyst Weigh In

AXGN has been the topic of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group lowered their price objective on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Lake Street Capital started coverage on AxoGen in a report on Monday, March 17th. They set a "buy" rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $22.20.

AxoGen Trading Up 2.1%

Shares of NASDAQ:AXGN traded up $0.23 on Tuesday, hitting $11.30. The company had a trading volume of 580,171 shares, compared to its average volume of 467,636. The firm's 50-day simple moving average is $15.38 and its two-hundred day simple moving average is $16.13. The firm has a market capitalization of $514.65 million, a price-to-earnings ratio of -35.31 and a beta of 1.19. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a 1 year low of $6.34 and a 1 year high of $21.00.

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.