AxoGen, Inc. (NASDAQ:AXGN) Position Lessened by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC reduced its position in AxoGen, Inc. (NASDAQ:AXGN) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,703 shares of the medical equipment provider’s stock after selling 47,185 shares during the period. Parkman Healthcare Partners LLC owned about 0.83% of AxoGen worth $6,027,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Divisadero Street Capital Management LP boosted its stake in shares of AxoGen by 2.7% during the 4th quarter. Divisadero Street Capital Management LP now owns 26,972 shares of the medical equipment provider’s stock worth $444,000 after acquiring an additional 700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in AxoGen by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,128 shares of the medical equipment provider’s stock worth $398,000 after purchasing an additional 926 shares during the period. Principal Financial Group Inc. grew its holdings in AxoGen by 8.3% during the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after purchasing an additional 1,228 shares during the last quarter. Rhumbline Advisers raised its position in shares of AxoGen by 2.7% in the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 1,521 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of AxoGen in the fourth quarter worth $30,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Stock Performance

Shares of AXGN stock opened at $10.88 on Wednesday. The company has a fifty day moving average price of $16.47 and a two-hundred day moving average price of $16.28. AxoGen, Inc. has a one year low of $5.65 and a one year high of $21.00. The stock has a market cap of $495.42 million, a P/E ratio of -34.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Insider Activity at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the sale, the director now owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This trade represents 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 company insiders.

Analysts Set New Price Targets

AXGN has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their price target on AxoGen from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday. 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 target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AxoGen has an average rating of “Buy” and an average target price of $22.20.

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.