Oberweis Asset Management Inc. Purchases 72,500 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Oberweis Asset Management Inc. increased its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 31.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,500 shares of the medical equipment provider's stock after acquiring an additional 72,500 shares during the quarter. Oberweis Asset Management Inc. owned about 0.68% of AxoGen worth $4,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised 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 acquiring an additional 31,612 shares in the last quarter. State Street Corp raised its stake in shares of AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AxoGen by 13.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider's stock valued at $12,735,000 after purchasing an additional 91,984 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after buying an additional 530,775 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in AxoGen by 14.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider's stock valued at $6,866,000 after buying an additional 52,846 shares during the period. Institutional investors own 80.29% of the company's stock.

Insider Activity at AxoGen

In other news, insider Erick Wayne Devinney sold 15,111 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares in the company, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now owns 97,899 shares in the company, valued at approximately $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 7.00% of the company's stock.

AxoGen Price Performance

Shares of NASDAQ AXGN traded down $0.53 during mid-day trading on Wednesday, hitting $15.98. 70,233 shares of the stock were exchanged, compared to its average volume of 426,905. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. The stock's fifty day simple moving average is $17.34 and its two-hundred day simple moving average is $16.21. 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 company has a market cap of $708.62 million, a P/E ratio of -49.94 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AXGN shares. Canaccord Genuity Group lifted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Lake Street Capital initiated coverage on AxoGen in a report on Monday, March 17th. They set a "buy" rating and a $30.00 price objective on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.