Assenagon Asset Management S.A. Increases Holdings in AxoGen, Inc. $AXGN

Key Points

• Assenagon Asset Management S.A. increased its stake in AxoGen, Inc. by 2.2%, totaling 1,023,122 shares valued at approximately $11.1 million.
• Wall Street analysts have upgraded AxoGen from a "hold" to a "buy" rating, with a consensus price target of $26.00.
• AxoGen's stock is currently down 1.7%, trading at $17.30, despite a market capitalization of approximately $795.97 million.

Assenagon Asset Management S.A. grew its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,023,122 shares of the medical equipment provider's stock after buying an additional 21,905 shares during the period. Assenagon Asset Management S.A. owned 2.25% of AxoGen worth $11,101,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AXGN. State of Wyoming purchased a new stake in AxoGen in the fourth quarter worth $31,000. Fifth Third Bancorp bought a new position in AxoGen in the 1st quarter worth $92,000. GAMMA Investing LLC raised its holdings in AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock worth $105,000 after purchasing an additional 5,555 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in AxoGen in the 1st quarter worth $146,000. Finally, KLP Kapitalforvaltning AS bought a new position in AxoGen in the 1st quarter worth $150,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Stock Down 1.7%

NASDAQ AXGN opened at $17.30 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The company has a market capitalization of $795.97 million, a P/E ratio of -172.98 and a beta of 1.03. AxoGen, Inc. has a one year low of $9.22 and a one year high of $21.00. The stock has a 50 day moving average price of $14.86 and a 200-day moving average price of $14.15.

Wall Street Analyst Weigh In

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

AxoGen Company 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.

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