Russell Investments Group Ltd. Acquires 147,821 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Russell Investments Group Ltd. raised its stake in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 49,604.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,119 shares of the medical equipment provider's stock after purchasing an additional 147,821 shares during the period. Russell Investments Group Ltd. owned 0.34% of AxoGen worth $2,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock valued at $12,571,000 after buying an additional 95,051 shares in the last quarter. Barclays PLC increased its position in AxoGen by 119.3% in the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider's stock worth $1,010,000 after purchasing an additional 39,182 shares during the last quarter. Geode Capital Management LLC lifted its position 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 valued at $14,170,000 after purchasing an additional 31,612 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of AxoGen by 9.8% in the 3rd quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider's stock worth $1,084,000 after buying an additional 6,767 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of AxoGen in the 3rd quarter worth about $207,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Trading Down 2.5 %

AXGN traded down $0.39 during trading hours on Monday, reaching $15.18. 278,023 shares of the company's stock traded hands, compared to its average volume of 426,462. The firm has a 50-day moving average price of $17.60 and a 200 day moving average price of $16.14. The firm has a market capitalization of $673.14 million, a PE ratio of -47.44 and a beta of 1.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a 52-week low of $5.55 and a 52-week high of $21.00.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group boosted their target price on AxoGen from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital initiated coverage on AxoGen in a research report on Monday, March 17th. They issued 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 data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $22.60.

Insider Transactions at AxoGen

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, the insider now owns 217,762 shares in the company, valued at $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. Company insiders own 7.00% of the company's stock.

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.