Bank of New York Mellon Corp Trims Stock Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Bank of New York Mellon Corp lowered its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,686 shares of the medical equipment provider’s stock after selling 1,764 shares during the quarter. Bank of New York Mellon Corp’s holdings in AxoGen were worth $2,137,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after purchasing an additional 31,612 shares in the last quarter. State Street Corp boosted its stake in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after buying an additional 95,051 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in AxoGen by 2,912.3% during the third 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. Parkman Healthcare Partners LLC bought a new position in AxoGen during the third quarter valued at approximately $5,789,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in AxoGen by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 363,764 shares of the medical equipment provider’s stock valued at $5,100,000 after buying an additional 28,659 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Canaccord Genuity Group raised their price objective on AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Lake Street Capital assumed coverage on AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 price objective for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $22.60.

Insider Buying and Selling

In related news, insider Erick Wayne Devinney sold 15,111 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

AxoGen Price Performance

Shares of AXGN stock opened at $17.72 on Friday. AxoGen, Inc. has a 52-week low of $5.55 and a 52-week 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 firm has a market capitalization of $785.78 million, a P/E ratio of -55.38 and a beta of 1.02. The stock has a 50 day moving average price of $18.24 and a 200 day moving average price of $15.63.

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.