Nuveen LLC Invests $5.67 Million in AxoGen, Inc. $AXGN

Key Points

• Nuveen LLC acquired 306,386 shares of AxoGen, Inc., valued at approximately $5.67 million, increasing its ownership to 0.67% of the company.
• AxoGen's share price has decreased by 9.0%, currently trading at $14.79, with a 52-week low of $9.22 and a high of $21.00.
• Brokerages have recently rated AxoGen as a "buy," with Canaccord Genuity lowering its price target from $26.00 to $24.00 but still maintaining a buy rating.

Nuveen LLC bought a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 306,386 shares of the medical equipment provider's stock, valued at approximately $5,668,000. Nuveen LLC owned 0.67% of AxoGen at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Divisadero Street Capital Management LP raised its position in shares of AxoGen by 2.7% in the 4th quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider's stock worth $444,000 after buying an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AxoGen by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider's stock worth $398,000 after buying an additional 926 shares during the period. State of Wyoming purchased a new position in shares of AxoGen in the 4th quarter worth $31,000. Rhumbline Advisers raised its position in shares of AxoGen by 3.5% in the 1st quarter. Rhumbline Advisers now owns 60,264 shares of the medical equipment provider's stock worth $1,115,000 after buying an additional 2,032 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of AxoGen by 9.8% in the 4th quarter. MetLife Investment Management LLC now owns 26,034 shares of the medical equipment provider's stock worth $429,000 after buying an additional 2,319 shares during the period. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXGN has been the topic of several research reports. Wall Street Zen raised AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Canaccord Genuity Group cut their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AxoGen currently has an average rating of "Buy" and a consensus price target of $26.00.

AxoGen Stock Down 0.5%

Shares of NASDAQ AXGN traded down $0.08 during midday trading on Friday, reaching $16.14. 1,938,656 shares of the company's stock were exchanged, compared to its average volume of 828,503. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week high of $21.00. The stock has a market capitalization of $742.60 million, a PE ratio of -161.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The business's fifty day moving average price is $12.89 and its two-hundred day moving average price is $14.44.

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.