Assenagon Asset Management S.A. Raises Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Assenagon Asset Management S.A. lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 21.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,001,217 shares of the medical equipment provider’s stock after buying an additional 174,681 shares during the period. Assenagon Asset Management S.A. owned approximately 2.26% of AxoGen worth $18,523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Driehaus Capital Management LLC boosted its stake in shares of AxoGen by 166.0% during the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock worth $15,729,000 after acquiring an additional 595,579 shares in the last quarter. First Light Asset Management LLC lifted its holdings in shares of AxoGen by 10.2% in the 4th quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock worth $74,272,000 after acquiring an additional 416,499 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in AxoGen during the 4th quarter worth approximately $4,943,000. Raymond James Financial Inc. acquired a new stake in AxoGen during the 4th quarter worth approximately $4,552,000. Finally, Russell Investments Group Ltd. grew its stake in shares of AxoGen by 49,604.4% during the fourth quarter. Russell Investments Group Ltd. now owns 148,119 shares of the medical equipment provider’s stock worth $2,441,000 after purchasing an additional 147,821 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of AxoGen from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Finally, Lake Street Capital started 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $22.20.

Insider Buying and Selling

In related news, Director Joseph A. Tyndall sold 20,062 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $11.20, for a total transaction of $224,694.40. Following the completion of the sale, the director now owns 15,345 shares of the company’s stock, valued at $171,864. This represents a 56.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.78% of the stock is currently owned by insiders.

AxoGen Stock Performance

NASDAQ:AXGN opened at $9.75 on Friday. AxoGen, Inc. has a twelve month low of $6.59 and a twelve month high of $21.00. The firm has a market capitalization of $444.05 million, a price-to-earnings ratio of -30.47 and a beta of 1.05. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $13.40 and its 200 day simple moving average is $15.87.

AxoGen 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.