AxoGen (NASDAQ:AXGN) Stock Price Down 4.8% – What’s Next?

Shares of AxoGen, Inc. (NASDAQ:AXGN) dropped 4.8% on Friday . The company traded as low as $15.55 and last traded at $15.61. Approximately 135,310 shares changed hands during trading, a decline of 60% from the average daily volume of 334,148 shares. The stock had previously closed at $16.40.

Wall Street Analysts Forecast Growth

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

AxoGen Price Performance

The business has a 50-day simple moving average of $14.45 and a 200 day simple moving average of $12.29. The stock has a market cap of $684.32 million, a P/E ratio of -48.59 and a beta of 1.06. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

Institutional Investors Weigh In On AxoGen

Several large investors have recently modified their holdings of AXGN. First Light Asset Management LLC increased its holdings in AxoGen by 336.6% in the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock worth $24,211,000 after purchasing an additional 2,578,147 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares in the last quarter. State Street Corp lifted its position in shares of AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 shares during the period. Divisadero Street Capital Management LP boosted its stake in AxoGen by 587.2% during the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after acquiring an additional 587,024 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after purchasing an additional 530,775 shares during the period. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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.