Assenagon Asset Management S.A. Grows Stock Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Assenagon Asset Management S.A. grew its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,001,217 shares of the medical equipment provider's stock after purchasing an additional 174,681 shares during the period. Assenagon Asset Management S.A. owned approximately 2.26% of AxoGen worth $18,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of AxoGen during the 4th quarter valued at $363,000. Sei Investments Co. bought a new stake in shares of AxoGen in the 4th quarter valued at about $188,000. New York State Common Retirement Fund grew its position in shares of AxoGen by 63.7% in the 4th quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider's stock valued at $1,147,000 after buying an additional 27,101 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of AxoGen by 13.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider's stock valued at $12,735,000 after buying an additional 91,984 shares during the last quarter. Finally, Barclays PLC grew its position in shares of AxoGen by 6.9% in the 4th quarter. Barclays PLC now owns 77,003 shares of the medical equipment provider's stock valued at $1,269,000 after buying an additional 4,967 shares during the last quarter. Institutional investors own 80.29% of the company's stock.

Insiders Place Their Bets

In related news, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now owns 217,762 shares in the company, valued at approximately $3,810,835. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph A. Tyndall sold 20,062 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the sale, the director now owns 15,345 shares in the company, valued at $171,864. This trade represents a 56.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.78% of the company's stock.

AxoGen Stock Performance

NASDAQ AXGN traded down $0.22 on Tuesday, hitting $9.53. 498,431 shares of the stock traded hands, compared to its average volume of 479,008. The business's fifty day moving average is $13.13 and its two-hundred day moving average is $15.82. AxoGen, Inc. has a 12 month low of $6.59 and a 12 month high of $21.00. The firm has a market capitalization of $434.00 million, a price-to-earnings ratio of -63.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.65 and a current ratio of 4.28.

Analyst Ratings Changes

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

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.