Connor Clark & Lunn Investment Management Ltd. Purchases 123,118 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Connor Clark & Lunn Investment Management Ltd. raised its position in AxoGen, Inc. (NASDAQ:AXGN) by 66.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 308,686 shares of the medical equipment provider’s stock after acquiring an additional 123,118 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.70% of AxoGen worth $4,328,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AXGN. Assenagon Asset Management S.A. lifted its position in AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after purchasing an additional 1,248,823 shares during the period. Divisadero Street Capital Management LP raised its stake in shares of AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after buying an additional 587,024 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of AxoGen by 26.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock worth $1,407,000 after acquiring an additional 41,095 shares during the period. Semanteon Capital Management LP acquired a new stake in shares of AxoGen during the 3rd quarter valued at about $603,000. Finally, Creative Planning increased its stake in AxoGen by 152.2% in the third quarter. Creative Planning now owns 29,790 shares of the medical equipment provider’s stock valued at $418,000 after acquiring an additional 17,980 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AXGN has been the topic of a number of recent research reports. JMP Securities lifted their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Five equities research 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 $15.00.

AxoGen Price Performance

Shares of AxoGen stock opened at $13.34 on Friday. The stock has a market capitalization of $587.09 million, a price-to-earnings ratio of -41.69 and a beta of 1.13. AxoGen, Inc. has a 1-year low of $5.55 and a 1-year high of $15.90. The firm’s 50-day moving average price is $13.75 and its two-hundred day moving average price is $10.60. 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 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.