AxoGen, Inc. (NASDAQ:AXGN) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 50.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 34,682 shares of the medical equipment provider’s stock after selling 35,826 shares during the period. M&T Bank Corp’s holdings in AxoGen were worth $487,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quest Partners LLC grew its position in AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 2,076 shares during the period. nVerses Capital LLC purchased a new stake in shares of AxoGen during the 3rd quarter worth about $56,000. Koss Olinger Consulting LLC acquired a new stake in AxoGen during the 2nd quarter worth approximately $75,000. Oppenheimer & Co. Inc. acquired a new stake in AxoGen during the 3rd quarter worth approximately $156,000. Finally, Quantbot Technologies LP purchased a new position in AxoGen in the third quarter valued at approximately $165,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.00.

AxoGen Price Performance

AXGN stock opened at $14.74 on Wednesday. The stock has a 50-day simple moving average of $13.83 and a 200-day simple moving average of $11.56. The firm has a market cap of $648.68 million, a P/E ratio of -46.06 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen, Inc. has a 1 year low of $5.55 and a 1 year high of $15.90.

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.