US Bancorp DE Acquires Shares of 1,841 AxoGen, Inc. (NASDAQ:AXGN)

US Bancorp DE bought a new position in shares of AxoGen, Inc. (NASDAQ:AXGN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,841 shares of the medical equipment provider’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after acquiring an additional 530,775 shares during the period. Parkman Healthcare Partners LLC bought a new stake in AxoGen during the third quarter worth about $5,789,000. FMR LLC lifted its stake in shares of AxoGen by 743.1% in the 3rd 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 last quarter. Eagle Asset Management Inc. bought a new position in AxoGen during the 3rd quarter valued at approximately $1,728,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AxoGen by 66.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider’s stock worth $4,328,000 after buying an additional 123,118 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors.

Insider Activity at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now owns 97,899 shares of the company’s stock, valued at $1,959,937.98. The trade was a 4.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the business’s 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 sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

AxoGen Stock Performance

Shares of AXGN opened at $17.90 on Thursday. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The company’s 50 day simple moving average is $18.19 and its 200 day simple moving average is $15.58. The company has a market capitalization of $793.76 million, a price-to-earnings ratio of -55.94 and a beta of 1.02.

Analyst Upgrades and Downgrades

AXGN has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group boosted their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Lake Street Capital initiated coverage on shares of AxoGen in a research note on Monday. They issued a “buy” rating and a $30.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AxoGen presently has a consensus rating of “Buy” and a consensus target price of $22.60.

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.