Oberweis Asset Management Inc. Grows Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Oberweis Asset Management Inc. raised its stake in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,500 shares of the medical equipment provider's stock after buying an additional 72,500 shares during the period. Oberweis Asset Management Inc. owned approximately 0.68% of AxoGen worth $4,952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXGN. Geode Capital Management LLC raised its holdings in 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 worth $14,170,000 after purchasing an additional 31,612 shares during the last quarter. Barclays PLC grew its stake in AxoGen by 119.3% in the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider's stock valued at $1,010,000 after acquiring an additional 39,182 shares during the last quarter. Principal Financial Group Inc. purchased a new position in AxoGen during the 3rd quarter valued at about $207,000. State Street Corp raised its position in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock worth $12,571,000 after acquiring an additional 95,051 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock valued at $7,697,000 after purchasing an additional 530,775 shares during the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Trading Down 1.3 %

AxoGen stock traded down $0.22 during midday trading on Monday, reaching $16.18. The stock had a trading volume of 214,742 shares, compared to its average volume of 428,437. The stock's 50-day simple moving average is $17.43 and its 200 day simple moving average is $16.20. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. 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 stock has a market capitalization of $717.49 million, a PE ratio of -50.56 and a beta of 1.00.

Insider Transactions at AxoGen

In other 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 sale, the director now owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the transaction, the insider now owns 217,762 shares of the company's stock, valued at $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AXGN shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 target price on shares of AxoGen in a report on Wednesday, March 5th. Lake Street Capital initiated coverage on shares of AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity Group lifted their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target 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.