Connor Clark & Lunn Investment Management Ltd. Acquires 50,966 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 17.7% in the first quarter, HoldingsChannel reports. The firm owned 339,711 shares of the medical equipment provider’s stock after purchasing an additional 50,966 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AxoGen were worth $6,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXGN. State of Wyoming bought a new stake in shares of AxoGen during the fourth quarter valued at approximately $31,000. Fifth Third Bancorp bought a new stake in shares of AxoGen during the 1st quarter valued at $92,000. GAMMA Investing LLC raised its stake in shares of AxoGen by 3,884.6% during the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 5,555 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in AxoGen in the 1st quarter worth about $146,000. Finally, KLP Kapitalforvaltning AS bought a new position in AxoGen in the 1st quarter worth about $150,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Stock Up 1.1%

Shares of NASDAQ:AXGN opened at $14.16 on Wednesday. AxoGen, Inc. has a 52-week low of $9.22 and a 52-week high of $21.00. The firm has a market capitalization of $651.54 million, a P/E ratio of -141.59 and a beta of 1.00. The stock has a 50 day moving average price of $11.60 and a 200-day moving average price of $14.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14.

Wall Street Analyst Weigh In

Several analysts have issued reports on AXGN shares. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group dropped their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, May 13th.

Insider Activity

In other news, Director Joseph A. Tyndall sold 20,062 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total value of $224,694.40. Following the completion of the transaction, the director owned 15,345 shares of the company’s stock, valued at approximately $171,864. This represents a 56.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.78% of the company’s stock.

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.