Panagora Asset Management Inc. Has $4.07 Million Position in AxoGen, Inc. $AXGN

Key Points

• Panagora Asset Management Inc. increased its holdings in AxoGen, Inc. by 11.3% during Q1, reaching a value of $4.07 million with ownership of 219,841 shares.
• Several hedge funds have also shown interest, with Driehaus Capital Management increasing its position by 22.8% and Trexquant Investment LP boosting its stake by an impressive 827.7% during the same quarter.
• AxoGen received a recent upgrade to a "buy" rating from Wall Street Zen, contributing to its average target price of $26.00 as analysts remain optimistic about the stock's performance.

Panagora Asset Management Inc. increased its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 219,841 shares of the medical equipment provider's stock after acquiring an additional 22,333 shares during the period. Panagora Asset Management Inc. owned about 0.48% of AxoGen worth $4,067,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Driehaus Capital Management LLC boosted its position in shares of AxoGen by 22.8% during the 1st quarter. Driehaus Capital Management LLC now owns 1,172,029 shares of the medical equipment provider's stock valued at $21,683,000 after acquiring an additional 217,590 shares in the last quarter. Trexquant Investment LP lifted its holdings in AxoGen by 827.7% during the 1st quarter. Trexquant Investment LP now owns 183,495 shares of the medical equipment provider's stock valued at $3,395,000 after purchasing an additional 163,715 shares during the last quarter. Keeley Teton Advisors LLC lifted its holdings in AxoGen by 22.7% during the 1st quarter. Keeley Teton Advisors LLC now owns 69,928 shares of the medical equipment provider's stock valued at $1,294,000 after purchasing an additional 12,929 shares during the last quarter. Jump Financial LLC bought a new position in AxoGen during the 1st quarter valued at about $495,000. Finally, EntryPoint Capital LLC bought a new position in AxoGen during the 1st quarter valued at about $401,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Canaccord Genuity Group dropped their target price on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $26.00.

AxoGen Trading Up 3.8%

NASDAQ AXGN traded up $0.58 during trading on Friday, reaching $15.98. 1,050,860 shares of the stock traded hands, compared to its average volume of 1,275,567. The firm has a market cap of $735.29 million, a price-to-earnings ratio of -159.78 and a beta of 1.03. The stock's 50-day moving average price is $13.58 and its 200 day moving average price is $14.35. The company has a quick ratio of 2.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.59. AxoGen, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $21.00.

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.