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

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.00.

AxoGen Stock Performance

The firm has a market cap of $708.97 million, a P/E ratio of -50.34 and a beta of 1.01. 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 company’s 50-day moving average is $14.50 and its two-hundred day moving average is $12.39.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quest Partners LLC lifted its position in shares of 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 purchasing an additional 2,076 shares in the last quarter. nVerses Capital LLC bought a new stake in AxoGen during the third quarter worth $56,000. Koss Olinger Consulting LLC purchased a new position in AxoGen in the second quarter worth $75,000. Acadian Asset Management LLC bought a new position in AxoGen in the 2nd quarter valued at $125,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of AxoGen during the 3rd quarter valued at $156,000. Institutional investors own 80.29% 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.