Jacobs Levy Equity Management Inc. Has $1.35 Million Stake in AxoGen, Inc. (NASDAQ:AXGN)

Jacobs Levy Equity Management Inc. increased its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 39.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,000 shares of the medical equipment provider's stock after purchasing an additional 23,070 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.19% of AxoGen worth $1,351,000 as of its most recent SEC filing.

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

Insider Buying and Selling at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred 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 transaction, the insider now directly owns 217,762 shares of the company's stock, valued at $3,810,835. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the director now directly owns 97,899 shares of the company's stock, valued at $1,959,937.98. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.78% of the company's stock.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded down $0.19 during trading hours on Tuesday, reaching $11.57. 381,414 shares of the stock were exchanged, compared to its average volume of 462,261. The stock's fifty day simple moving average is $16.02 and its 200 day simple moving average is $16.24. The firm has a market capitalization of $526.94 million, a price-to-earnings ratio of -36.16 and a beta of 1.19. AxoGen, Inc. has a 52 week low of $5.90 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Wall Street Analysts Forecast Growth

AXGN has been the subject of a number of analyst reports. Canaccord Genuity Group decreased their price objective on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Lake Street Capital initiated coverage on AxoGen in a research note on Monday, March 17th. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $22.20.

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.