JPMorgan Chase & Co. Sells 238,432 Shares of AxoGen, Inc. (NASDAQ:AXGN)

JPMorgan Chase & Co. reduced its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 43.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,568 shares of the medical equipment provider's stock after selling 238,432 shares during the period. JPMorgan Chase & Co. owned 0.71% of AxoGen worth $5,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider's stock valued at $14,170,000 after purchasing an additional 31,612 shares in the last quarter. State Street Corp raised its position in shares of AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock worth $12,571,000 after purchasing an additional 95,051 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of AxoGen by 14.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider's stock worth $6,866,000 after purchasing an additional 52,846 shares during the period. Raymond James Financial Inc. acquired a new stake in AxoGen in the 4th quarter valued at approximately $4,552,000. Finally, Bradley Foster & Sargent Inc. CT boosted its stake in AxoGen by 3.7% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 84,153 shares of the medical equipment provider's stock valued at $1,387,000 after buying an additional 2,989 shares in the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Price Performance

Shares of AXGN traded up $0.30 during trading hours on Thursday, reaching $15.92. The stock had a trading volume of 23,884 shares, compared to its average volume of 426,397. The company's 50-day moving average is $17.50 and its two-hundred day moving average is $16.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The stock has a market capitalization of $705.73 million, a PE ratio of -49.66 and a beta of 1.00. AxoGen, Inc. has a 12 month low of $5.55 and a 12 month high of $21.00.

Insider Buying and Selling

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the sale, the director now owns 97,899 shares of the company's stock, valued at $1,959,937.98. This represents a 4.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.