AxoGen (NASDAQ:AXGN) Sets New 52-Week High – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) shares hit a new 52-week high during trading on Monday . The stock traded as high as $16.48 and last traded at $15.86, with a volume of 167847 shares traded. The stock had previously closed at $15.64.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded 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 stock presently has an average rating of “Buy” and an average target price of $15.00.

AxoGen Stock Down 5.4 %

The stock has a market cap of $715.57 million, a price-to-earnings ratio of -50.81 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. The firm’s 50-day simple moving average is $14.01 and its two-hundred day simple moving average is $11.92.

Institutional Trading of AxoGen

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in AxoGen in the 3rd quarter worth approximately $207,000. Franklin Resources Inc. raised its position in shares of AxoGen by 9.8% during the third quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock worth $1,084,000 after acquiring an additional 6,767 shares during the last quarter. Barclays PLC lifted its stake in shares of AxoGen by 119.3% during the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after acquiring an additional 39,182 shares during the period. Geode Capital Management LLC lifted its stake in shares of AxoGen by 3.2% during the third 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 during the period. Finally, State Street Corp boosted its holdings in AxoGen by 11.9% in the third 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 last quarter. 80.29% of the stock is owned by institutional investors.

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.