Tocqueville Asset Management L.P. Sells 105,000 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Tocqueville Asset Management L.P. trimmed its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 15.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 589,900 shares of the medical equipment provider's stock after selling 105,000 shares during the quarter. Tocqueville Asset Management L.P. owned 1.34% of AxoGen worth $9,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXGN. Principal Financial Group Inc. acquired a new position in shares of AxoGen in the 3rd quarter valued at $207,000. Los Angeles Capital Management LLC acquired a new position in AxoGen in the third quarter worth about $279,000. Oppenheimer & Co. Inc. bought a new position in AxoGen during the third quarter worth about $156,000. Quest Partners LLC boosted 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 valued at $29,000 after purchasing an additional 2,076 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AxoGen by 66.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 308,686 shares of the medical equipment provider's stock valued at $4,328,000 after purchasing an additional 123,118 shares during the period. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Down 1.8 %

Shares of NASDAQ AXGN traded down $0.32 during mid-day trading on Friday, reaching $17.72. 460,457 shares of the company's stock were exchanged, compared to its average volume of 398,442. AxoGen, Inc. has a twelve month low of $5.55 and a twelve month high of $21.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $785.78 million, a price-to-earnings ratio of -55.38 and a beta of 1.02. The business has a fifty day simple moving average of $18.25 and a 200 day simple moving average of $15.60.

Remove Ads

Wall Street Analyst Weigh In

AXGN has been the subject of several analyst reports. 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 boosted their target price on AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Lake Street Capital began coverage on shares of AxoGen in a research report on Monday. They issued a "buy" rating and a $30.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen currently has an average rating of "Buy" and a consensus target price of $22.60.

Insider Buying and Selling

In related news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction that occurred 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. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.

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.