AxoGen, Inc. (NASDAQ:AXGN) Shares Acquired by HighMark Wealth Management LLC

HighMark Wealth Management LLC raised its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 1,004.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,735 shares of the medical equipment provider's stock after buying an additional 32,500 shares during the period. AxoGen makes up approximately 0.4% of HighMark Wealth Management LLC's portfolio, making the stock its 29th largest position. HighMark Wealth Management LLC owned 0.08% of AxoGen worth $661,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Driehaus Capital Management LLC grew its stake in AxoGen by 166.0% during the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider's stock worth $15,729,000 after purchasing an additional 595,579 shares in the last quarter. First Light Asset Management LLC boosted its stake 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 buying an additional 416,499 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of AxoGen in the 4th quarter valued at about $4,943,000. Raymond James Financial Inc. acquired a new position in shares of AxoGen during the fourth quarter worth about $4,552,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of AxoGen by 21.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider's stock worth $18,523,000 after buying an additional 174,681 shares during the period. Institutional investors and hedge funds own 80.29% of the company's stock.

AxoGen Stock Up 0.3%

AxoGen stock traded up $0.03 during mid-day trading on Friday, hitting $10.50. The company had a trading volume of 1,101,152 shares, compared to its average volume of 486,418. The stock has a market cap of $478.17 million, a price-to-earnings ratio of -70.00 and a beta of 1.05. The company has a quick ratio of 2.65, a current ratio of 4.28 and a debt-to-equity ratio of 0.63. AxoGen, Inc. has a 1 year low of $7.09 and a 1 year high of $21.00. The business has a fifty day moving average of $12.29 and a 200 day moving average of $15.58.

Analysts Set New Price Targets

AXGN has been the subject of a number of recent research reports. Lake Street Capital assumed coverage on shares of AxoGen in a research note on Monday, March 17th. They issued a "buy" rating and a $30.00 price target for the company. Canaccord Genuity Group reduced their price objective on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen presently has an average rating of "Buy" and an average price target 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 now directly owns 15,345 shares of the company's stock, valued at approximately $171,864. This represents a 56.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.78% of the company's stock.

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.