Tocqueville Asset Management L.P. Lowers Stock Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Key Points

• Tocqueville Asset Management L.P. reduced its stake in AxoGen, Inc. by 17.8%, selling 105,000 shares to hold a total of 484,900 shares valued at approximately $8.97 million according to a recent SEC filing.
• Several institutional investors, including State of Wyoming and GAMMA Investing LLC, have recently taken new positions in AxoGen, indicating heightened interest as these entities collectively own 80.29% of the company's stock.
• AxoGen's stock received mixed analyst ratings, with Canaccord Genuity lowering its price target from $26.00 to $24.00, while Wall Street Zen upgraded it from "hold" to "buy."

Tocqueville Asset Management L.P. lowered its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 484,900 shares of the medical equipment provider's stock after selling 105,000 shares during the period. Tocqueville Asset Management L.P. owned 1.06% of AxoGen worth $8,971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of Wyoming purchased a new stake in AxoGen during the fourth quarter valued at about $31,000. Fifth Third Bancorp acquired a new position in shares of AxoGen during the first quarter worth about $92,000. GAMMA Investing LLC lifted its stake in shares of AxoGen by 3,884.6% during the first 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 acquired a new position in shares of AxoGen during the first quarter worth about $146,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of AxoGen during the first quarter worth about $150,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

Insider Activity at AxoGen

In other news, Director Joseph A. Tyndall sold 20,062 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total transaction of $224,694.40. Following the completion of the transaction, the director directly owned 15,345 shares of the company's stock, valued at approximately $171,864. This represents a 56.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXGN. Canaccord Genuity Group cut 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 upgraded AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

AxoGen Price Performance

Shares of NASDAQ AXGN opened at $14.93 on Friday. AxoGen, Inc. has a twelve month low of $9.22 and a twelve month high of $21.00. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $686.93 million, a price-to-earnings ratio of -149.29 and a beta of 1.00. The business has a 50 day simple moving average of $11.84 and a 200-day simple moving average of $14.56.

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.

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