AxoGen (NASDAQ:AXGN) Trading Down 4.8% – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN) shares fell 4.8% during trading on Tuesday . The company traded as low as $16.35 and last traded at $16.36. 77,254 shares traded hands during trading, a decline of 80% from the average session volume of 390,326 shares. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

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

AxoGen Stock Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The company’s fifty day moving average price is $14.05 and its 200 day moving average price is $11.95. The company has a market cap of $715.60 million, a PE ratio of -50.81 and a beta of 1.06.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently modified their holdings of the company. Quest Partners LLC grew its holdings in shares of AxoGen by 23,066.7% in 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 in the last quarter. nVerses Capital LLC purchased a new position in AxoGen in the third quarter worth $56,000. Koss Olinger Consulting LLC bought a new position in AxoGen in the 2nd quarter valued at $75,000. Acadian Asset Management LLC purchased a new stake in shares of AxoGen during the 2nd quarter valued at $125,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of AxoGen during the 3rd quarter worth $156,000. Institutional investors own 80.29% of the company’s stock.

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.