644,623 Shares in AxoGen, Inc. $AXGN Purchased by Brown Capital Management LLC

Brown Capital Management LLC acquired a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 644,623 shares of the medical equipment provider’s stock, valued at approximately $11,500,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after acquiring an additional 1,057 shares during the period. The Manufacturers Life Insurance Company raised its position in AxoGen by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock valued at $176,000 after purchasing an additional 1,079 shares in the last quarter. Arizona State Retirement System lifted its stake in AxoGen by 10.0% during the third quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock worth $228,000 after purchasing an additional 1,164 shares during the last quarter. Primoris Wealth Advisors LLC lifted its stake in AxoGen by 9.0% during the second quarter. Primoris Wealth Advisors LLC now owns 15,700 shares of the medical equipment provider’s stock worth $170,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of AxoGen in the 3rd quarter valued at $27,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Paul Thomas sold 21,399 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total value of $633,624.39. Following the sale, the director owned 13,528 shares of the company’s stock, valued at $400,564.08. The trade was a 61.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy Mcbride Wendell sold 43,684 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $29.31, for a total value of $1,280,378.04. Following the completion of the sale, the director owned 93,826 shares in the company, valued at $2,750,040.06. This trade represents a 31.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 341,276 shares of company stock worth $10,125,245. Company insiders own 2.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on AXGN shares. Mizuho began coverage on AxoGen in a report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target for the company. Raymond James Financial reiterated an “outperform” rating and issued a $36.00 target price on shares of AxoGen in a research report on Thursday, December 4th. JMP Securities set a $34.00 target price on AxoGen in a research note on Thursday, October 30th. Canaccord Genuity Group raised their price target on shares of AxoGen from $27.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Lake Street Capital lifted their price target on shares of AxoGen from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.56.

AxoGen Stock Performance

NASDAQ:AXGN opened at $35.02 on Tuesday. The stock’s 50-day moving average is $31.65 and its 200-day moving average is $22.47. AxoGen, Inc. has a 1-year low of $9.22 and a 1-year high of $36.00. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.62 billion, a P/E ratio of -700.40 and a beta of 1.00.

AxoGen Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.