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

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

Analyst Ratings Changes

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

AxoGen Stock Down 1.8 %

The stock has a 50-day moving average price of $14.50 and a 200-day moving average price of $12.39. 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 has a market capitalization of $708.97 million, a P/E ratio of -50.34 and a beta of 1.01.

Institutional Investors Weigh In On AxoGen

Several large investors have recently modified their holdings of the company. Sentry Investment Management LLC boosted its position in AxoGen by 9.3% during the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock valued at $243,000 after acquiring an additional 1,483 shares during the last quarter. Quest Partners LLC boosted its position in shares of AxoGen by 23,066.7% during the 3rd 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. Rhumbline Advisers boosted its position in shares of AxoGen by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock valued at $421,000 after purchasing an additional 3,380 shares in the last quarter. nVerses Capital LLC acquired a new stake in AxoGen during the third quarter worth approximately $56,000. Finally, Franklin Resources Inc. increased its holdings in AxoGen by 9.8% in the third quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock worth $1,084,000 after purchasing an additional 6,767 shares in the last quarter. 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.