AxoGen, Inc. $AXGN Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in AxoGen, Inc. by 6.5%, selling 27,233 shares and holding 389,377 shares worth approximately $7.2 million at the end of the first quarter.
• Other hedge funds showed mixed activity; while Vanguard Group increased its holdings by 4.6%, GSA Capital Partners raised its stake by a significant 599.9%.
• AxoGen's stock currently has an average rating of "Buy" with a price target decrease from $26.00 to $24.00, reflecting ongoing interest but also market adjustments.

Charles Schwab Investment Management Inc. lessened its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 389,377 shares of the medical equipment provider's stock after selling 27,233 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.86% of AxoGen worth $7,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of Wyoming purchased a new stake in AxoGen in the fourth quarter valued at approximately $31,000. Fifth Third Bancorp acquired a new position in AxoGen during the first quarter worth approximately $92,000. GAMMA Investing LLC increased its position in AxoGen by 3,884.6% during the first 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in AxoGen during the first quarter worth approximately $146,000. Finally, KLP Kapitalforvaltning AS acquired a new position in AxoGen during the first quarter worth approximately $150,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Canaccord Genuity Group dropped their price target on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AxoGen has a consensus rating of "Buy" and an average price target of $26.00.

AxoGen Stock Down 0.5%

AxoGen stock traded down $0.08 during midday trading on Friday, hitting $16.14. 1,938,656 shares of the stock were exchanged, compared to its average volume of 1,716,937. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. The firm has a market cap of $742.60 million, a P/E ratio of -161.38 and a beta of 1.00. The company has a 50 day moving average price of $13.02 and a two-hundred day moving average price of $14.43.

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.