Assenagon Asset Management S.A. Sells 484,570 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Assenagon Asset Management S.A. reduced its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 826,536 shares of the medical equipment provider's stock after selling 484,570 shares during the quarter. Assenagon Asset Management S.A. owned about 1.88% of AxoGen worth $13,621,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AXGN. First Light Asset Management LLC grew its holdings in AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider's stock worth $24,211,000 after buying an additional 2,578,147 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider's stock valued at $14,170,000 after purchasing an additional 31,612 shares during the period. State Street Corp grew its position in AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock valued at $12,571,000 after buying an additional 95,051 shares in the last quarter. Divisadero Street Capital Management LP raised its position in shares of AxoGen by 587.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider's stock worth $4,974,000 after buying an additional 587,024 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock valued at $7,697,000 after acquiring an additional 530,775 shares during the period. 80.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

AxoGen Stock Down 1.8 %

AxoGen stock traded down $0.34 during mid-day trading on Friday, hitting $18.09. 668,728 shares of the company's stock were exchanged, compared to its average volume of 397,483. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $18.96. The stock has a 50 day moving average of $15.08 and a two-hundred day moving average of $13.07. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The stock has a market cap of $796.14 million, a P/E ratio of -56.53 and a beta of 1.01.

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.