Fmr LLC Acquires 157,730 Shares of AxoGen, Inc. (NASDAQ:AXGN)

FMR LLC boosted its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 743.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,957 shares of the medical equipment provider's stock after purchasing an additional 157,730 shares during the quarter. FMR LLC owned about 0.41% of AxoGen worth $2,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. acquired a new position in shares of AxoGen during the 3rd quarter worth approximately $1,728,000. Charles Schwab Investment Management Inc. boosted its stake in shares of AxoGen by 8.6% in 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 period. Intech Investment Management LLC acquired a new stake in AxoGen during the third quarter worth approximately $173,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in AxoGen by 66.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider's stock worth $4,328,000 after acquiring an additional 123,118 shares during the period. Finally, Quest Partners LLC increased its stake in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 2,076 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Price Performance

Shares of NASDAQ AXGN traded down $0.25 during trading hours on Friday, hitting $14.16. 203,177 shares of the stock were exchanged, compared to its average volume of 390,124. The company's fifty day simple moving average is $13.82 and its two-hundred day simple moving average is $11.50. The company has a market cap of $623.18 million, a PE ratio of -44.25 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $15.90.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised AxoGen from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $15.00.

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.