Bank of America Corp DE Decreases Stock Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Bank of America Corp DE trimmed its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,523 shares of the medical equipment provider's stock after selling 86,614 shares during the quarter. Bank of America Corp DE owned approximately 0.91% of AxoGen worth $6,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXGN. First Light Asset Management LLC raised its holdings in shares of AxoGen by 10.2% in the 4th quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider's stock valued at $74,272,000 after purchasing an additional 416,499 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of AxoGen in the 4th quarter valued at $4,552,000. Russell Investments Group Ltd. raised its holdings in shares of AxoGen by 49,604.4% in the 4th quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider's stock valued at $2,441,000 after purchasing an additional 147,821 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AxoGen by 86.2% in the 4th quarter. Ameriprise Financial Inc. now owns 291,590 shares of the medical equipment provider's stock valued at $4,805,000 after purchasing an additional 135,026 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings 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 purchasing an additional 91,984 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AxoGen Stock Performance

AxoGen stock traded up $0.07 during midday trading on Friday, hitting $10.97. 583,750 shares of the company's stock were exchanged, compared to its average volume of 468,382. AxoGen, Inc. has a 12-month low of $6.57 and a 12-month high of $21.00. 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 $499.62 million, a price-to-earnings ratio of -34.28 and a beta of 1.19. The firm's 50 day simple moving average is $14.80 and its 200 day simple moving average is $16.05.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now directly owns 97,899 shares of the company's stock, valued at approximately $1,959,937.98. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 40,173 shares of company stock valued at $589,237. Insiders own 2.78% of the company's stock.

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.