M&T Bank Corp Cuts Position in AxoGen, Inc. (NASDAQ:AXGN)

M&T Bank Corp trimmed its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 50.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,682 shares of the medical equipment provider's stock after selling 35,826 shares during the period. M&T Bank Corp owned approximately 0.08% of AxoGen worth $487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXGN. Bank of New York Mellon Corp grew its stake in AxoGen by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider's stock worth $1,165,000 after buying an additional 13,798 shares during the last quarter. Rhumbline Advisers grew its position in shares of AxoGen by 6.2% during the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider's stock worth $421,000 after acquiring an additional 3,380 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of AxoGen in the 2nd quarter valued at $125,000. Koss Olinger Consulting LLC acquired a new position in shares of AxoGen in the 2nd quarter valued at $75,000. Finally, Rice Hall James & Associates LLC raised its position in AxoGen by 26.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider's stock valued at $1,407,000 after purchasing an additional 41,095 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Trading Down 2.7 %

NASDAQ AXGN traded down $0.40 during mid-day trading on Wednesday, reaching $14.34. 316,568 shares of the stock were exchanged, compared to its average volume of 388,015. The stock has a market capitalization of $631.07 million, a PE ratio of -44.81 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. The business's fifty day simple moving average is $13.83 and its 200 day simple moving average is $11.56.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded AxoGen from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently 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.