Renaissance Technologies LLC acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,000 shares of the medical equipment provider's stock, valued at approximately $363,000.
A number of other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock valued at $7,697,000 after acquiring an additional 530,775 shares in the last quarter. Raymond James Financial Inc. bought a new position in AxoGen in the fourth quarter worth approximately $4,552,000. Russell Investments Group Ltd. grew its stake in AxoGen by 49,604.4% in the fourth quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider's stock valued at $2,441,000 after acquiring an additional 147,821 shares during the period. Norges Bank bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $1,269,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of AxoGen by 14.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider's stock valued at $6,866,000 after acquiring an additional 52,846 shares in the last quarter. Institutional investors own 80.29% of the company's stock.
AxoGen Stock Performance
Shares of NASDAQ AXGN traded down $0.34 during midday trading on Tuesday, reaching $16.41. The company's stock had a trading volume of 402,496 shares, compared to its average volume of 432,034. The firm has a 50 day moving average price of $17.10 and a 200-day moving average price of $16.31. The stock has a market capitalization of $727.77 million, a P/E ratio of -51.29 and a beta of 1.19. AxoGen, Inc. has a 12-month low of $5.65 and a 12-month high of $21.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.
Insider Activity
In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the 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 sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction dated Monday, March 3rd. The shares were 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. The trade was 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.
Wall Street Analyst Weigh In
A number of analysts have commented on AXGN shares. Cantor Fitzgerald restated an "overweight" rating and set a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. 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 report on Wednesday, February 26th. Finally, Lake Street Capital started coverage on AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $22.60.
Check Out Our Latest Research Report on AXGN
AxoGen Company Profile
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Free Report)
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.
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