Schwab Charles Investment Management Inc. boosted its position in AxoGen, Inc. (NASDAQ:AXGN) by 108.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 106,689 shares of the medical equipment provider’s stock after purchasing an additional 55,389 shares during the period. Schwab Charles Investment Management Inc.’s holdings in AxoGen were worth $2,065,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in AxoGen by 80.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock worth $2,685,000 after purchasing an additional 71,609 shares in the last quarter. Citadel Advisors LLC bought a new stake in AxoGen in the 2nd quarter worth about $947,000. Menta Capital LLC grew its position in AxoGen by 7.1% in the 2nd quarter. Menta Capital LLC now owns 116,845 shares of the medical equipment provider’s stock worth $1,957,000 after purchasing an additional 7,777 shares in the last quarter. New York State Common Retirement Fund grew its position in AxoGen by 26.6% in the 2nd quarter. New York State Common Retirement Fund now owns 31,400 shares of the medical equipment provider’s stock worth $526,000 after purchasing an additional 6,599 shares in the last quarter. Finally, Lyon Street Capital LLC grew its position in AxoGen by 45.2% in the 2nd quarter. Lyon Street Capital LLC now owns 301,084 shares of the medical equipment provider’s stock worth $5,043,000 after purchasing an additional 93,779 shares in the last quarter. 66.00% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on AXGN. Leerink Swann reissued an “outperform” rating and set a $23.00 target price (up from $22.00) on shares of AxoGen in a research report on Saturday, September 30th. Lake Street Capital increased their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Wedbush reissued a “buy” rating and set a $27.00 target price (up from $22.00) on shares of AxoGen in a research report on Tuesday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of AxoGen in a research report on Friday, January 5th. Finally, BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. AxoGen presently has an average rating of “Buy” and a consensus price target of $29.33.

In related news, Director Guido J. Neels sold 1,150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $19.74, for a total value of $22,701,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jamie Mark Grooms sold 84,295 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $26.38, for a total transaction of $2,223,702.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,293,990 shares of company stock valued at $26,494,898 over the last three months. Insiders own 9.33% of the company’s stock.

AxoGen, Inc. (NASDAQ AXGN) opened at $27.40 on Friday. AxoGen, Inc. has a 52-week low of $8.75 and a 52-week high of $31.70. The firm has a market cap of $929.06, a P/E ratio of -68.50 and a beta of 0.40. The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55.

AxoGen (NASDAQ:AXGN) last released its earnings results on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The firm had revenue of $16.05 million during the quarter, compared to the consensus estimate of $15.55 million. AxoGen’s quarterly revenue was up 43.2% compared to the same quarter last year. sell-side analysts anticipate that AxoGen, Inc. will post -0.31 earnings per share for the current fiscal year.

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AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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Institutional Ownership by Quarter for AxoGen (NASDAQ:AXGN)

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