D. E. Shaw & Co. Inc. Sells 146,038 Shares of AxoGen, Inc. (NASDAQ:AXGN)

D. E. Shaw & Co. Inc. decreased its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,306 shares of the medical equipment provider’s stock after selling 146,038 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.11% of AxoGen worth $8,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AXGN. Divisadero Street Capital Management LP raised its holdings in 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 buying an additional 700 shares during the period. Principal Financial Group Inc. increased 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 worth $264,000 after buying an additional 1,228 shares during the last quarter. Rhumbline Advisers increased its holdings in AxoGen by 2.7% during the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock worth $960,000 after buying an additional 1,521 shares during the last quarter. R Squared Ltd bought a new position in AxoGen during the fourth quarter worth $30,000. Finally, US Bancorp DE bought a new position in AxoGen during the fourth quarter worth $30,000. Institutional investors own 80.29% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now directly owns 217,762 shares in the company, valued at $3,810,835. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction that occurred 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 currently owned by insiders.

AxoGen Stock Performance

AxoGen stock opened at $11.78 on Friday. The business has a 50 day moving average of $16.24 and a 200-day moving average of $16.24. AxoGen, Inc. has a 1 year low of $5.74 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The company has a market capitalization of $536.40 million, a P/E ratio of -36.81 and a beta of 1.19.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AXGN. Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group dropped their price target on AxoGen from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Lake Street Capital initiated coverage on AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 target price for the company. Six equities research 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.

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.