Harvest Fund Management Co. Ltd Acquires New Position in AxoGen, Inc. (NASDAQ:AXGN)

Harvest Fund Management Co. Ltd acquired a new stake in AxoGen, Inc. (NASDAQ:AXGN) during the fourth quarter, Holdings Channel.com reports. The fund acquired 5,664 shares of the medical equipment provider’s stock, valued at approximately $93,000.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC increased its stake in AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 2,076 shares during the last quarter. R Squared Ltd bought a new position in AxoGen in the fourth quarter valued at approximately $30,000. US Bancorp DE bought a new position in AxoGen in the fourth quarter valued at approximately $30,000. Oppenheimer & Co. Inc. bought a new position in AxoGen in the third quarter valued at approximately $156,000. Finally, Quantbot Technologies LP acquired a new stake in AxoGen in the third quarter valued at approximately $165,000. 80.29% of the stock is owned by institutional investors.

Insider Transactions at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the transaction, the insider now owns 217,762 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen 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 of the company’s stock, valued at $1,959,937.98. This 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 company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AXGN. Canaccord Genuity Group raised 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. Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Finally, Lake Street Capital began coverage on shares of AxoGen in a research report on Monday, March 17th. They issued a “buy” rating and a $30.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen currently has a consensus rating of “Buy” and an average price target of $22.60.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $17.72 on Friday. The firm has a market cap of $785.78 million, a PE ratio of -55.38 and a beta of 1.02. The firm’s fifty day moving average is $18.24 and its 200-day moving average is $15.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen, Inc. has a 52 week low of $5.55 and a 52 week high of $21.00.

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.