HighMark Wealth Management LLC Has $1.06 Million Position in AxoGen, Inc. $AXGN

Key Points

• HighMark Wealth Management LLC increased its position in AxoGen, Inc. by 174.5%, owning a total of 98,085 shares valued at approximately $1.06 million by the end of the last quarter.
• AxoGen's stock has seen several institutional investors enhance their stakes, with Vanguard Group increasing its holdings by 4.6% and Invesco Ltd. soaring by 2,124.5% in recent months.
• Analysts view AxoGen positively, as the stock has been upgraded to a "buy" rating, with a consensus target price set at $25.75.

HighMark Wealth Management LLC boosted its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 174.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,085 shares of the medical equipment provider's stock after buying an additional 62,350 shares during the quarter. AxoGen makes up approximately 0.5% of HighMark Wealth Management LLC's investment portfolio, making the stock its 25th largest position. HighMark Wealth Management LLC owned 0.22% of AxoGen worth $1,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AXGN. Vanguard Group Inc. increased its position in AxoGen by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock valued at $46,964,000 after acquiring an additional 112,679 shares during the period. Driehaus Capital Management LLC grew its stake in shares of AxoGen by 22.8% in the first quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider's stock worth $21,683,000 after purchasing an additional 217,590 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AxoGen by 2.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,023,122 shares of the medical equipment provider's stock worth $11,101,000 after purchasing an additional 21,905 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in AxoGen by 46.8% in the first quarter. Parkman Healthcare Partners LLC now owns 536,832 shares of the medical equipment provider's stock valued at $9,931,000 after purchasing an additional 171,129 shares during the period. Finally, Invesco Ltd. raised its position in AxoGen by 2,124.5% during the 1st quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider's stock worth $7,075,000 after purchasing an additional 365,237 shares during the last quarter. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Up 0.1%

Shares of NASDAQ:AXGN opened at $17.88 on Friday. 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 business's 50-day moving average is $15.59 and its 200-day moving average is $14.17. The company has a market capitalization of $822.66 million, a price-to-earnings ratio of -178.78 and a beta of 1.04.

Analyst Ratings Changes

A number of research firms have commented on AXGN. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. HC Wainwright started coverage on AxoGen in a research note on Tuesday. They issued a "buy" rating and a $25.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $25.75.

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.

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