Quantbot Technologies LP Invests $632,000 in AxoGen, Inc. $AXGN

Key Points

• Quantbot Technologies LP has acquired a new stake in AxoGen, Inc. by purchasing 34,182 shares valued at approximately $632,000, bringing its ownership to 0.08% as per recent SEC filings.
• Several other institutional investors also increased their stakes in AxoGen, with hedge funds collectively owning 80.29% of the company's stock.
• AxoGen's stock has been upgraded to a "buy" rating by analysts, with an average price target set at $26.00, indicating potential growth ahead.

Quantbot Technologies LP purchased a new position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 34,182 shares of the medical equipment provider's stock, valued at approximately $632,000. Quantbot Technologies LP owned approximately 0.08% of AxoGen at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State of Wyoming purchased a new position in AxoGen in the 4th quarter worth about $31,000. Fifth Third Bancorp purchased a new position in AxoGen in the 1st quarter worth about $92,000. GAMMA Investing LLC increased its stake in AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock worth $105,000 after purchasing an additional 5,555 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in AxoGen in the 1st quarter worth about $146,000. Finally, KLP Kapitalforvaltning AS purchased a new position in AxoGen in the 1st quarter worth about $150,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Stock Performance

AXGN traded down $0.08 on Friday, hitting $16.14. The company had a trading volume of 1,938,656 shares, compared to its average volume of 828,503. The company's fifty day moving average price is $12.89 and its 200 day moving average price is $14.44. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $21.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. The stock has a market cap of $742.60 million, a price-to-earnings ratio of -161.38 and a beta of 1.00.

Analyst Upgrades and Downgrades

AXGN has been the topic of a number of analyst reports. Canaccord Genuity Group dropped their price target on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen raised AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $26.00.

About AxoGen

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.