Perkins Capital Management Inc. Sells 22,175 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Perkins Capital Management Inc. decreased its holdings in shares of AxoGen, Inc. (NASDAQ:AXGN) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,224 shares of the medical equipment provider’s stock after selling 22,175 shares during the quarter. AxoGen makes up about 3.8% of Perkins Capital Management Inc.’s holdings, making the stock its 5th biggest position. Perkins Capital Management Inc. owned approximately 0.59% of AxoGen worth $4,305,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AXGN. Quest Partners LLC increased its stake in shares of AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 2,076 shares during the last quarter. R Squared Ltd acquired a new position in shares of AxoGen during the 4th quarter worth $30,000. US Bancorp DE acquired a new position in shares of AxoGen during the 4th quarter worth $30,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AxoGen during the 4th quarter worth $93,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of AxoGen during the 3rd quarter worth $156,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Price Performance

Shares of AxoGen stock opened at $17.72 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. AxoGen, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The firm has a fifty day moving average price of $18.24 and a two-hundred day moving average price of $15.67. The company has a market cap of $785.78 million, a PE ratio of -55.38 and a beta of 1.02.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 97,899 shares of the company’s stock, valued at $1,959,937.98. This represents a 4.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction 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 directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Canaccord Genuity Group increased their price target on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Lake Street Capital initiated coverage on shares of AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.