Millennium Management LLC Sells 960,710 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Millennium Management LLC decreased its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 88.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 131,182 shares of the medical equipment provider's stock after selling 960,710 shares during the period. Millennium Management LLC owned about 0.30% of AxoGen worth $2,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AXGN. Driehaus Capital Management LLC grew its holdings in shares of AxoGen by 166.0% in the fourth 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 during the last quarter. First Light Asset Management LLC lifted its stake in AxoGen by 10.2% in the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider's stock worth $74,272,000 after acquiring an additional 416,499 shares during the period. Balyasny Asset Management L.P. purchased a new stake in AxoGen in the fourth quarter worth $4,943,000. Raymond James Financial Inc. purchased a new stake in AxoGen in the fourth quarter worth $4,552,000. Finally, Russell Investments Group Ltd. lifted its stake in AxoGen by 49,604.4% in the fourth quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider's stock worth $2,441,000 after acquiring an additional 147,821 shares during the period. Institutional investors own 80.29% of the company's stock.

Insider Buying and Selling

In other AxoGen news, Director Joseph A. Tyndall sold 20,062 shares of the business's stock in a transaction dated 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 transaction, the director now owns 15,345 shares of the company's stock, valued at approximately $171,864. The trade was a 56.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of 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 position. The disclosure for this sale can be found here. 2.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AXGN has been the subject of a number of research analyst reports. Canaccord Genuity Group dropped their price target on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Lake Street Capital assumed coverage on AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $22.20.

AxoGen Stock Down 0.9%

Shares of NASDAQ:AXGN traded down $0.10 on Thursday, hitting $10.80. 505,686 shares of the company traded hands, compared to its average volume of 470,493. AxoGen, Inc. has a 52 week low of $6.59 and a 52 week high of $21.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $14.19 and a 200-day simple moving average of $15.98. The company has a market cap of $491.88 million, a PE ratio of -33.75 and a beta of 1.19.

AxoGen Company 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.