OneAscent Financial Services LLC Takes $249,000 Position in AxoGen, Inc. (NASDAQ:AXGN)

OneAscent Financial Services LLC acquired a new stake in shares of AxoGen, Inc. (NASDAQ:AXGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,129 shares of the medical equipment provider’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in 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 buying an additional 530,775 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in AxoGen during the fourth quarter valued at $4,552,000. FMR LLC lifted its holdings in AxoGen by 743.1% in the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after acquiring an additional 157,730 shares during the period. State Street Corp boosted its position in AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after purchasing an additional 95,051 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AxoGen during the 4th quarter valued at about $1,269,000. Institutional investors own 80.29% of the company’s stock.

Analysts Set New Price Targets

AXGN has been the topic of several recent research reports. Canaccord Genuity Group increased their price objective on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Lake Street Capital started coverage on shares of AxoGen in a research report on Monday, March 17th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $22.60.

Insider Activity

In related news, Director Amy Mcbride Wendell sold 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the sale, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 217,762 shares in the company, valued at approximately $3,810,835. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

AxoGen Price Performance

NASDAQ AXGN opened at $16.22 on Friday. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a 12 month low of $5.55 and a 12 month high of $21.00. The stock has a market cap of $719.26 million, a price-to-earnings ratio of -50.69 and a beta of 1.02. The company’s 50 day moving average is $18.16 and its two-hundred day moving average is $15.96.

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.