Connor Clark & Lunn Investment Management Ltd. Buys 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% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 308,686 shares of the medical equipment provider’s stock after buying an additional 123,118 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AxoGen were worth $4,328,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Sentry Investment Management LLC grew its position in shares of AxoGen by 9.3% during the 3rd quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock worth $243,000 after buying an additional 1,483 shares during the period. BNP Paribas Financial Markets increased its holdings in AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after purchasing an additional 1,651 shares in the last quarter. Quest Partners LLC raised its stake in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of AxoGen by 8.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after buying an additional 2,204 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after buying an additional 2,671 shares in the last quarter. Institutional investors own 80.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. JMP Securities upped their target price on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen presently has an average rating of “Buy” and an average price target of $15.00.

AxoGen Stock Up 1.8 %

AXGN stock opened at $13.34 on Friday. The firm has a 50-day moving average price of $13.75 and a 200-day moving average price of $10.60. AxoGen, Inc. has a 12 month low of $5.55 and a 12 month high of $15.90. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $587.09 million, a P/E ratio of -41.69 and a beta of 1.13.

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.