Jane Street Group LLC Sells 30,670 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Jane Street Group LLC lessened its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 53.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,446 shares of the medical equipment provider's stock after selling 30,670 shares during the quarter. Jane Street Group LLC owned about 0.06% of AxoGen worth $436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of AxoGen by 34.4% in the fourth quarter. SG Americas Securities LLC now owns 21,763 shares of the medical equipment provider's stock valued at $359,000 after acquiring an additional 5,576 shares during the period. R Squared Ltd purchased a new stake in AxoGen in the 4th quarter worth approximately $30,000. Calamos Advisors LLC purchased a new stake in AxoGen in the 4th quarter worth approximately $523,000. Legato Capital Management LLC boosted its holdings in AxoGen by 42.8% in the 4th quarter. Legato Capital Management LLC now owns 34,524 shares of the medical equipment provider's stock valued at $569,000 after purchasing an additional 10,344 shares during the period. Finally, Rhumbline Advisers grew its position in shares of AxoGen by 2.7% during the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock valued at $960,000 after purchasing an additional 1,521 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors.

AxoGen Price Performance

Shares of NASDAQ:AXGN traded down $0.46 during trading on Wednesday, reaching $10.90. The company had a trading volume of 358,327 shares, compared to its average volume of 469,049. The company has a fifty day moving average of $14.34 and a two-hundred day moving average of $16.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $496.43 million, a P/E ratio of -34.06 and a beta of 1.19. AxoGen, Inc. has a 12 month low of $6.59 and a 12 month high of $21.00.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AXGN shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Lake Street Capital started coverage on AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 target price for the company. Finally, Canaccord Genuity Group decreased their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has an average rating of "Buy" and an average price target of $22.20.

Insider Activity

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares of the company's stock, valued at approximately $3,810,835. This trade represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph A. Tyndall sold 20,062 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total transaction 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 $171,864. This trade represents a 56.66% decrease in their position. The disclosure for this sale can be found here. Corporate 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.