AxoGen, Inc. (NASDAQ:AXGN) Position Decreased by Perkins Capital Management Inc.

Perkins Capital Management Inc. trimmed its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,224 shares of the medical equipment provider's stock after selling 22,175 shares during the period. AxoGen makes up about 3.8% of Perkins Capital Management Inc.'s holdings, making the stock its 5th biggest position. Perkins Capital Management Inc. owned approximately 0.59% of AxoGen worth $4,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in AxoGen in the 3rd quarter valued at approximately $207,000. Oppenheimer & Co. Inc. purchased a new stake in shares of AxoGen in the third quarter valued at approximately $156,000. Quest Partners LLC grew its holdings in AxoGen by 23,066.7% during the third 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. Connor Clark & Lunn Investment Management Ltd. raised its position in AxoGen by 66.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider's stock worth $4,328,000 after acquiring an additional 123,118 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in AxoGen in the third quarter worth $173,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Price Performance

NASDAQ AXGN traded down $0.63 during trading hours on Friday, reaching $18.36. The company's stock had a trading volume of 423,717 shares, compared to its average volume of 419,322. 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 is $18.27 and its two-hundred day moving average is $15.83. AxoGen, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The stock has a market cap of $814.16 million, a PE ratio of -57.38 and a beta of 1.02.

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Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $24.00 target price on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital began coverage on shares of AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.60.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the business's 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 completion of the transaction, the director now directly owns 97,899 shares of the company's stock, valued at $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. This represents 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.

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.