Russell Investments Group Ltd. Has $2.44 Million Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Russell Investments Group Ltd. boosted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 49,604.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,119 shares of the medical equipment provider's stock after buying an additional 147,821 shares during the period. Russell Investments Group Ltd. owned about 0.34% of AxoGen worth $2,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after acquiring an additional 530,775 shares during the period. Raymond James Financial Inc. purchased a new position in AxoGen during the fourth quarter valued at approximately $4,552,000. State Street Corp grew its position in AxoGen by 11.9% during 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. Norges Bank acquired a new position in AxoGen in the 4th quarter valued at approximately $1,269,000. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $6,866,000 after buying an additional 52,846 shares during the period. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AxoGen

In other news, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $100,100.00. Following the transaction, the director now directly owns 97,899 shares in the company, 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. 7.00% of the stock is owned by corporate insiders.

AxoGen Stock Performance

Shares of AXGN stock traded up $0.35 during trading on Thursday, reaching $15.97. The company had a trading volume of 30,554 shares, compared to its average volume of 524,873. The company has a market capitalization of $708.22 million, a PE ratio of -49.91 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The firm's 50 day simple moving average is $17.50 and its two-hundred day simple moving average is $16.13. AxoGen, Inc. has a one year low of $5.55 and a one year high of $21.00.

Analyst Ratings Changes

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

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.