AxoGen, Inc. (NASDAQ:AXGN) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of AxoGen, Inc. (NASDAQ:AXGN) by 2,912.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 549,000 shares of the medical equipment provider’s stock after purchasing an additional 530,775 shares during the quarter. JPMorgan Chase & Co. owned about 1.25% of AxoGen worth $7,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Sentry Investment Management LLC grew its position in shares of AxoGen by 9.3% during the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 1,483 shares during the last quarter. Quest Partners LLC boosted its stake in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares during the period. Rhumbline Advisers grew its position in AxoGen by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after purchasing an additional 3,380 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of AxoGen in the third quarter valued at approximately $56,000. Finally, Franklin Resources Inc. raised its holdings in shares of AxoGen by 9.8% during the third quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock valued at $1,084,000 after buying an additional 6,767 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of AXGN opened at $18.24 on Wednesday. The firm has a market cap of $802.71 million, a price-to-earnings ratio of -57.00 and a beta of 1.01. The company’s fifty day moving average is $14.73 and its 200-day moving average is $12.80. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a 12 month low of $5.55 and a 12 month high of $18.49.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.00.

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.