Connor Clark & Lunn Investment Management Ltd. Has $4.76 Million Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 288,745 shares of the medical equipment provider's stock after selling 19,941 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.66% of AxoGen worth $4,759,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AXGN. Principal Financial Group Inc. lifted its holdings in AxoGen by 8.3% in the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock worth $264,000 after acquiring an additional 1,228 shares during the last quarter. Rhumbline Advisers increased its position in AxoGen by 2.7% in 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 period. R Squared Ltd acquired a new position in shares of AxoGen during the fourth quarter valued at $30,000. US Bancorp DE bought a new position in shares of AxoGen during the fourth quarter worth about $30,000. Finally, Quest Partners LLC increased its holdings in shares of AxoGen by 23,066.7% in 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.

Analysts Set New Price Targets

Several analysts recently commented on AXGN shares. Lake Street Capital began coverage on AxoGen in a research report on Monday. They issued a "buy" rating and a $30.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen has an average rating of "Buy" and an average price target of $22.60.

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Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the transaction, the director now directly owns 97,899 shares in the company, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares of the company's stock, valued at $3,810,835. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by corporate insiders.

AxoGen Price Performance

Shares of NASDAQ AXGN traded up $0.14 during midday trading on Thursday, reaching $18.04. The company's stock had a trading volume of 351,961 shares, compared to its average volume of 543,580. AxoGen, Inc. has a one year low of $5.55 and a one year high of $21.00. The company has a market cap of $799.97 million, a price-to-earnings ratio of -56.38 and a beta of 1.02. The company has a 50 day moving average price of $18.19 and a 200 day moving average price of $15.58. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

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.