ArrowMark Colorado Holdings LLC Trims Stake in AxoGen, Inc. (NASDAQ:AXGN)

ArrowMark Colorado Holdings LLC lessened its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,275,463 shares of the medical equipment provider’s stock after selling 2,841,088 shares during the period. ArrowMark Colorado Holdings LLC owned about 5.17% of AxoGen worth $31,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Lazard Asset Management LLC grew its position in AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of AxoGen by 8.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after purchasing an additional 2,204 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after purchasing an additional 1,248,823 shares during the last quarter. Bank of New York Mellon Corp increased its stake in AxoGen by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider’s stock worth $1,165,000 after buying an additional 13,798 shares during the period. Finally, Rhumbline Advisers lifted its holdings in AxoGen by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock valued at $421,000 after buying an additional 3,380 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Performance

Shares of AXGN stock opened at $13.90 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The business has a fifty day moving average of $13.68 and a 200 day moving average of $10.88. The firm has a market capitalization of $611.74 million, a price-to-earnings ratio of -43.44 and a beta of 1.13. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $15.90.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AXGN. JMP Securities raised their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $15.00.

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.