HighMark Wealth Management LLC Raises Position in AxoGen, Inc. (NASDAQ:AXGN)

HighMark Wealth Management LLC grew its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 1,004.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,735 shares of the medical equipment provider's stock after purchasing an additional 32,500 shares during the quarter. AxoGen comprises about 0.4% of HighMark Wealth Management LLC's portfolio, making the stock its 29th biggest position. HighMark Wealth Management LLC owned approximately 0.08% of AxoGen worth $661,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE acquired a new position in shares of AxoGen in the 4th quarter valued at about $30,000. State of Wyoming acquired a new position in shares of AxoGen in the 4th quarter valued at about $31,000. Fifth Third Bancorp acquired a new position in shares of AxoGen in the 1st quarter valued at about $92,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AxoGen in the 4th quarter valued at about $93,000. Finally, GAMMA Investing LLC lifted its stake in shares of AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock valued at $105,000 after purchasing an additional 5,555 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Canaccord Genuity Group dropped their price target 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, Lake Street Capital assumed coverage on AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has a consensus rating of "Buy" and a consensus target price of $22.20.

Insider Activity at AxoGen

In other news, Director Joseph A. Tyndall sold 20,062 shares of the stock in a transaction that occurred 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 directly owned 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.78% of the stock is currently owned by company insiders.

AxoGen Stock Up 3.3%

AXGN stock traded up $0.35 during trading on Monday, reaching $10.85. 1,268,127 shares of the stock were exchanged, compared to its average volume of 488,905. The firm's 50 day moving average is $12.10 and its 200 day moving average is $15.54. AxoGen, Inc. has a twelve month low of $7.17 and a twelve month high of $21.00. The company has a current ratio of 4.28, a quick ratio of 2.65 and a debt-to-equity ratio of 0.63. The firm has a market cap of $494.11 million, a P/E ratio of -72.33 and a beta of 1.06.

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.