Tocqueville Asset Management L.P. Has $9.72 Million Stock Position in AxoGen, Inc. (NASDAQ:AXGN)

Tocqueville Asset Management L.P. lowered its stake in AxoGen, Inc. (NASDAQ:AXGN) by 15.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 589,900 shares of the medical equipment provider’s stock after selling 105,000 shares during the period. Tocqueville Asset Management L.P.’s holdings in AxoGen were worth $9,722,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC acquired a new position in shares of AxoGen in the 4th quarter valued at $565,000. Raymond James Financial Inc. acquired a new position in shares of AxoGen in the 4th quarter valued at $4,552,000. Charles Schwab Investment Management Inc. lifted its stake in shares of AxoGen by 14.5% in 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 during the period. US Bancorp DE acquired a new position in shares of AxoGen in the 4th quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of AxoGen in the 4th quarter valued at $235,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AXGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Canaccord Genuity Group raised their price objective on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Lake Street Capital began coverage on AxoGen in a research note on Monday. They set a “buy” rating and a $30.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen presently has a consensus rating of “Buy” and an average target price of $22.60.

AxoGen Stock Performance

AXGN opened at $18.28 on Tuesday. The business’s 50-day moving average price is $18.08 and its two-hundred day moving average price is $15.54. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $21.00. The company has a market capitalization of $810.61 million, a price-to-earnings ratio of -57.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Insider Buying and Selling at AxoGen

In other news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.00% of the company’s stock.

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.