Vanguard Group Inc. Grows Position in AxoGen, Inc. $AXGN

Key Points

• Vanguard Group Inc. has increased its stake in AxoGen, Inc. by 4.6%, bringing its total ownership to approximately 5.58% worth $46.96 million.
• AxoGen's stock recently opened at $14.79, down 9%, with a market capitalization of $680.49 million and a consensus target price of $26.00 from analysts.
• Recent analyst activity includes a rating increase from "hold" to "buy" by Wall Street Zen, while Canaccord Genuity Group lowered their target price from $26.00 to $24.00.

Vanguard Group Inc. lifted its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,538,607 shares of the medical equipment provider's stock after purchasing an additional 112,679 shares during the quarter. Vanguard Group Inc. owned 5.58% of AxoGen worth $46,964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Wyoming purchased a new position in shares of AxoGen during the fourth quarter worth about $31,000. Fifth Third Bancorp purchased a new position in shares of AxoGen during the first quarter worth about $92,000. GAMMA Investing LLC grew its holdings 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 purchased a new position in shares of AxoGen during the first quarter worth about $146,000. Finally, KLP Kapitalforvaltning AS purchased 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.

Analysts Set New Price Targets

Several brokerages have recently commented on AXGN. Canaccord Genuity Group cut their price objective on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $26.00.

AxoGen Trading Down 0.5%

Shares of NASDAQ:AXGN traded down $0.08 during trading on Friday, reaching $16.14. 1,938,656 shares of the company traded hands, compared to its average volume of 828,503. The firm has a market capitalization of $742.60 million, a price-to-earnings ratio of -161.38 and a beta of 1.00. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week 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 business's fifty day moving average is $12.89 and its 200-day moving average is $14.44.

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.