Invesco Ltd. Sells 260,294 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Invesco Ltd. trimmed its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 93.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,192 shares of the medical equipment provider's stock after selling 260,294 shares during the period. Invesco Ltd.'s holdings in AxoGen were worth $283,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in AxoGen in the fourth quarter worth about $30,000. US Bancorp DE bought a new position in shares of AxoGen in the 4th quarter worth approximately $30,000. Harvest Fund Management Co. Ltd purchased a new position in shares of AxoGen in the 4th quarter valued at approximately $93,000. Fox Run Management L.L.C. bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $169,000. Finally, Sei Investments Co. purchased a new stake in AxoGen in the fourth quarter worth $188,000. Institutional investors own 80.29% of the company's stock.

AxoGen Stock Down 0.4 %

AXGN stock traded down $0.07 during trading on Wednesday, hitting $16.34. 656,043 shares of the stock traded hands, compared to its average volume of 432,927. The stock has a market cap of $744.09 million, a price-to-earnings ratio of -51.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen, Inc. has a 1 year low of $5.65 and a 1 year high of $21.00. The firm's 50 day moving average is $17.10 and its two-hundred day moving average is $16.31.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AXGN shares. Canaccord Genuity Group upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $24.00 price objective on shares of AxoGen in a report on Wednesday, March 5th. Finally, Lake Street Capital assumed coverage on shares of AxoGen in a report on Monday, March 17th. They set a "buy" rating and a $30.00 target price for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $22.60.

Insider Transactions at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

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.