JPMorgan Chase & Co. Decreases Position in AxoGen, Inc. (NASDAQ:AXGN)

JPMorgan Chase & Co. cut its holdings in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 43.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 310,568 shares of the medical equipment provider's stock after selling 238,432 shares during the quarter. JPMorgan Chase & Co. owned about 0.71% of AxoGen worth $5,118,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of AxoGen in the 4th quarter valued at approximately $30,000. US Bancorp DE acquired a new stake in shares of AxoGen in the fourth quarter valued at approximately $30,000. Harvest Fund Management Co. Ltd bought a new stake in AxoGen during the 4th quarter worth about $93,000. Fox Run Management L.L.C. bought a new stake in AxoGen during the fourth quarter worth about $169,000. Finally, Sei Investments Co. acquired a new position in shares of AxoGen during the 4th quarter worth approximately $188,000. Institutional investors and hedge funds own 80.29% of the company's stock.

Insider Buying and Selling at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction 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 directly owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total transaction of $264,442.50. Following the sale, the insider now directly owns 217,762 shares of the company's stock, valued at approximately $3,810,835. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

AxoGen Trading Down 2.5 %

Shares of NASDAQ AXGN traded down $0.39 during midday trading on Monday, reaching $15.18. The stock had a trading volume of 278,023 shares, compared to its average volume of 426,462. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The company's 50 day moving average price is $17.60 and its 200 day moving average price is $16.14. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. The firm has a market cap of $673.14 million, a price-to-earnings ratio of -47.44 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AXGN shares. Canaccord Genuity Group upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Lake Street Capital assumed coverage on shares of AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $22.60.

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.