Perkins Capital Management Inc. Has $4.31 Million Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Perkins Capital Management Inc. trimmed its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 7.8% in the fourth quarter, according to its most recent filing with the SEC. The firm 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 investment portfolio, making the stock its 5th biggest position. Perkins Capital Management Inc.’s holdings in AxoGen were worth $4,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in AxoGen by 8.3% during the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock valued at $264,000 after purchasing an additional 1,228 shares during the last quarter. Rhumbline Advisers lifted its holdings in AxoGen by 2.7% during the 4th 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 last quarter. R Squared Ltd bought a new position in AxoGen during the 4th quarter valued at about $30,000. US Bancorp DE bought a new position in AxoGen during the 4th quarter valued at about $30,000. Finally, Quest Partners LLC lifted its holdings in AxoGen by 23,066.7% during the 3rd 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 during the last quarter. 80.29% of the stock is owned by institutional investors.

Insider Buying and Selling at AxoGen

In other news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction 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 represents a 4.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

AxoGen Trading Down 1.8 %

AXGN opened at $17.72 on Monday. 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 stock has a market capitalization of $785.78 million, a PE ratio of -55.38 and a beta of 1.02. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $21.00. The firm has a 50-day moving average price of $18.24 and a two-hundred day moving average price of $15.67.

Wall Street Analysts Forecast Growth

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