Integrated Quantitative Investments LLC Takes $341,000 Position in AxoGen, Inc. (NASDAQ:AXGN)

Integrated Quantitative Investments LLC purchased a new position in AxoGen, Inc. (NASDAQ:AXGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 20,673 shares of the medical equipment provider’s stock, valued at approximately $341,000.

Several other large investors also recently added to or reduced their stakes in AXGN. JPMorgan Chase & Co. increased its position in shares of AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after purchasing an additional 530,775 shares during the last quarter. Raymond James Financial Inc. bought a new position in AxoGen during the fourth quarter valued at $4,552,000. FMR LLC raised its stake in shares of AxoGen by 743.1% in the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after acquiring an additional 157,730 shares during the period. State Street Corp lifted its holdings in shares of AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after acquiring an additional 95,051 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AxoGen in the 4th quarter worth about $1,269,000. 80.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company’s stock, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of AxoGen 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 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. Corporate insiders own 7.00% of the company’s stock.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $16.22 on Friday. The firm’s 50 day simple moving average is $18.16 and its 200-day simple moving average is $15.96. 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 one year low of $5.55 and a one year high of $21.00. The firm has a market cap of $719.26 million, a PE ratio of -50.69 and a beta of 1.02.

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.