Assenagon Asset Management S.A. Increases Stake in AxoGen, Inc. (NASDAQ:AXGN)

Assenagon Asset Management S.A. raised its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 21.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,001,217 shares of the medical equipment provider's stock after acquiring an additional 174,681 shares during the quarter. Assenagon Asset Management S.A. owned about 2.26% of AxoGen worth $18,523,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AXGN. US Bancorp DE bought a new position in shares of AxoGen during the 4th quarter worth about $30,000. State of Wyoming bought a new position in shares of AxoGen during the 4th quarter worth about $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of AxoGen during the 4th quarter worth about $93,000. GAMMA Investing LLC boosted its position in shares of AxoGen by 3,884.6% during 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. Finally, Fox Run Management L.L.C. bought a new position in shares of AxoGen during the 4th quarter worth about $169,000. Institutional investors own 80.29% of the company's stock.

Analysts Set New Price Targets

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

AxoGen Stock Down 2.9%

NASDAQ:AXGN traded down $0.29 on Friday, hitting $9.75. The stock had a trading volume of 559,284 shares, compared to its average volume of 478,309. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The stock has a market cap of $444.05 million, a P/E ratio of -30.47 and a beta of 1.05. AxoGen, Inc. has a 1 year low of $6.59 and a 1 year high of $21.00. The firm's fifty day simple moving average is $13.40 and its two-hundred day simple moving average is $15.88.

Insider Buying and Selling at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred on 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 approximately $3,810,835. The trade was a 6.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph A. Tyndall sold 20,062 shares of AxoGen stock in a transaction on 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 of the company's stock, valued at $171,864. This represents a 56.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.78% of the company's stock.

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.