Divisadero Street Capital Management LP Buys 700 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Divisadero Street Capital Management LP increased its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,972 shares of the medical equipment provider’s stock after purchasing an additional 700 shares during the period. Divisadero Street Capital Management LP owned approximately 0.06% of AxoGen worth $444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in AxoGen in the fourth quarter worth about $30,000. US Bancorp DE purchased a new position in shares of AxoGen during the 4th quarter valued at about $30,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AxoGen in the 4th quarter valued at $93,000. Fox Run Management L.L.C. purchased a new position in AxoGen during the fourth quarter worth approximately $169,000. Finally, Sei Investments Co. acquired a new stake in shares of AxoGen in the fourth quarter valued at about $188,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXGN. Lake Street Capital started coverage on AxoGen in a research note on Monday, March 17th. They issued a “buy” rating and a $30.00 target price 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 note on Wednesday, February 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $22.60.

AxoGen Stock Down 2.0 %

AXGN opened at $16.41 on Wednesday. The firm has a market cap of $747.32 million, a P/E ratio of -51.29 and a beta of 1.19. AxoGen, Inc. has a 52 week low of $5.65 and a 52 week high of $21.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $17.10 and its 200 day simple moving average is $16.31.

Insider Buying and Selling

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen 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 transaction, the director now owns 97,899 shares of the company’s stock, valued at $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Erick Wayne Devinney sold 15,111 shares of the company’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 transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at $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. 7.00% of the stock is owned by corporate 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.