Prudential Financial Inc. Decreases Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Prudential Financial Inc. decreased its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 418,285 shares of the medical equipment provider's stock after selling 15,700 shares during the quarter. Prudential Financial Inc. owned about 0.95% of AxoGen worth $6,893,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in AxoGen by 8.3% during 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 in the last quarter. Rhumbline Advisers raised its holdings in shares of AxoGen by 2.7% during the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock valued at $960,000 after purchasing 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 about $30,000. US Bancorp DE bought a new position in shares of AxoGen during the 4th quarter worth about $30,000. Finally, Quest Partners LLC grew its stake 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 valued at $29,000 after buying an additional 2,076 shares during the period. Institutional investors and hedge funds own 80.29% of the company's stock.

AxoGen Stock Down 4.8 %

AXGN traded down $0.82 during midday trading on Friday, reaching $16.22. 496,207 shares of the company were exchanged, compared to its average volume of 425,752. The company has a market cap of $719.26 million, a price-to-earnings ratio of -50.69 and a beta of 1.02. AxoGen, Inc. has a one year low of $5.55 and a one year high of $21.00. The company's fifty day moving average price is $18.16 and its 200 day moving average price is $15.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

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Insider Activity at AxoGen

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

Analyst Ratings Changes

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

AxoGen Company 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.