Rhumbline Advisers Has $960,000 Stake in AxoGen, Inc. (NASDAQ:AXGN)

Rhumbline Advisers grew its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,232 shares of the medical equipment provider’s stock after acquiring an additional 1,521 shares during the quarter. Rhumbline Advisers owned 0.13% of AxoGen worth $960,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Legato Capital Management LLC increased its holdings in AxoGen by 42.8% during the 4th quarter. Legato Capital Management LLC now owns 34,524 shares of the medical equipment provider’s stock worth $569,000 after purchasing an additional 10,344 shares in the last quarter. Calamos Advisors LLC acquired a new position in shares of AxoGen during the fourth quarter worth about $523,000. R Squared Ltd bought a new position in shares of AxoGen during the fourth quarter worth about $30,000. SG Americas Securities LLC raised its position in AxoGen by 34.4% in the 4th quarter. SG Americas Securities LLC now owns 21,763 shares of the medical equipment provider’s stock valued at $359,000 after buying an additional 5,576 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after buying an additional 530,775 shares during the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

Insider Activity at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 owns 97,899 shares of the company’s stock, valued at $1,959,937.98. This represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.00% of the stock is owned by insiders.

AxoGen Stock Performance

Shares of NASDAQ:AXGN opened at $17.77 on Friday. The company’s 50 day simple moving average is $17.87 and its 200 day simple moving average is $15.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $21.00. The stock has a market capitalization of $787.99 million, a price-to-earnings ratio of -55.53 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research report on Wednesday. Canaccord Genuity Group increased their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.75.

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.