AxoGen, Inc. (NASDAQ:AXGN) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 32.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,298 shares of the medical equipment provider’s stock after selling 1,087 shares during the period. Tower Research Capital LLC TRC’s holdings in AxoGen were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after purchasing an additional 530,775 shares during the period. Barclays PLC grew its position in shares of AxoGen by 119.3% in the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after purchasing an additional 39,182 shares during the period. Sei Investments Co. purchased a new stake in shares of AxoGen during the fourth quarter worth about $188,000. New York State Common Retirement Fund increased its stake in shares of AxoGen by 63.7% during the fourth quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider’s stock worth $1,147,000 after purchasing an additional 27,101 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of AxoGen during the 4th quarter worth about $363,000. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Price Performance

AxoGen stock opened at $11.82 on Thursday. AxoGen, Inc. has a 1 year low of $5.74 and a 1 year high of $21.00. The company’s 50 day simple moving average is $16.35 and its 200-day simple moving average is $16.25. The company has a market capitalization of $538.22 million, a price-to-earnings ratio of -36.94 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Insider Activity at AxoGen

In related news, insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. This represents a 6.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now directly owns 97,899 shares in the company, valued at $1,959,937.98. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXGN. Lake Street Capital began 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a report on Wednesday, March 5th. Finally, Canaccord Genuity Group reduced their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.20.

AxoGen Profile

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.