Inceptionr LLC Cuts Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Inceptionr LLC lessened its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 23.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,307 shares of the medical equipment provider’s stock after selling 3,389 shares during the period. Inceptionr LLC’s holdings in AxoGen were worth $186,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AXGN. Principal Financial Group Inc. purchased a new position in shares of AxoGen in the 3rd quarter valued at $207,000. Los Angeles Capital Management LLC purchased a new position in shares of AxoGen in the 3rd quarter valued at $279,000. Oppenheimer & Co. Inc. purchased a new position in shares of AxoGen in the 3rd quarter valued at $156,000. Quest Partners LLC raised its stake in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 2,076 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 valued at $4,328,000 after acquiring an additional 123,118 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group raised their price target on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.75.

AxoGen Price Performance

AXGN opened at $17.17 on Tuesday. The firm has a market cap of $761.39 million, a price-to-earnings ratio of -53.66 and a beta of 1.02. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. The company has a fifty day simple moving average of $17.92 and a 200 day simple moving average of $15.33.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.00% of the stock is owned by company insiders.

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.