Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Connor Clark & Lunn Investment Management Ltd. decreased its position in AxoGen, Inc. (NASDAQ:AXGN) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 288,745 shares of the medical equipment provider’s stock after selling 19,941 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.66% of AxoGen worth $4,759,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AXGN. Geode Capital Management LLC boosted its stake in shares of AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares in the last quarter. State Street Corp boosted its stake in shares of AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AxoGen by 2,912.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after purchasing an additional 530,775 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AxoGen by 14.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 416,610 shares of the medical equipment provider’s stock valued at $6,866,000 after purchasing an additional 52,846 shares in the last quarter. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of AxoGen during the 3rd quarter valued at about $5,789,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

AxoGen Trading Up 0.5 %

NASDAQ:AXGN opened at $17.25 on Monday. AxoGen, Inc. has a one year low of $5.55 and a one year high of $21.00. 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 company’s 50-day simple moving average is $18.01 and its 200 day simple moving average is $15.50. The firm has a market capitalization of $764.93 million, a P/E ratio of -53.91 and a beta of 1.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AXGN shares. Canaccord Genuity Group lifted their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 target price on shares of AxoGen in a research note on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.75.

Insider Buying and Selling

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction dated 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 directly owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. The trade was a 4.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.00% of the stock is currently owned by insiders.

AxoGen 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.