Silvercrest Asset Management Group LLC Lowers Position in AxoGen, Inc. (NASDAQ:AXGN)

Silvercrest Asset Management Group LLC lessened its position in AxoGen, Inc. (NASDAQ:AXGN) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 583,580 shares of the medical equipment provider’s stock after selling 5,725 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in AxoGen were worth $9,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXGN. First Light Asset Management LLC raised its stake in AxoGen by 10.2% during the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock valued at $74,272,000 after buying an additional 416,499 shares during the last quarter. Driehaus Capital Management LLC raised its stake in AxoGen by 166.0% during the fourth quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock valued at $15,729,000 after buying an additional 595,579 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in AxoGen by 13.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock valued at $12,735,000 after buying an additional 91,984 shares during the last quarter. Deutsche Bank AG raised its stake in AxoGen by 2.2% during the fourth quarter. Deutsche Bank AG now owns 594,843 shares of the medical equipment provider’s stock valued at $9,803,000 after buying an additional 12,604 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in AxoGen by 14.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider’s stock valued at $6,866,000 after buying an additional 52,846 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Stock Up 0.4%

AxoGen stock opened at $11.83 on Friday. The firm has a market cap of $538.79 million, a price-to-earnings ratio of -36.97 and a beta of 1.19. The stock has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $16.23. AxoGen, Inc. has a 12 month low of $5.90 and a 12 month high of $21.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

Insiders Place Their Bets

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of AxoGen stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The stock was 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. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.78% of the company’s stock.

Analysts Set New Price Targets

AXGN has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Lake Street Capital initiated coverage on AxoGen in a research note on Monday, March 17th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Canaccord Genuity Group lowered their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.20.

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.