AxoGen (NASDAQ:AXGN) Sees Strong Trading Volume – Here’s What Happened

Shares of AxoGen, Inc. (NASDAQ:AXGN) saw unusually-strong trading volume on Friday . Approximately 338,875 shares were traded during trading, a decline of 15% from the previous session’s volume of 398,620 shares.The stock last traded at $14.39 and had previously closed at $13.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AXGN shares. JMP Securities increased their target price on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a report on Thursday, June 20th. Finally, Raymond James assumed coverage on shares of AxoGen in a report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen presently has an average rating of “Buy” and a consensus target price of $13.80.

AxoGen Stock Up 8.9 %

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The firm has a market capitalization of $649.12 million, a PE ratio of -37.87 and a beta of 1.13. The company’s 50 day simple moving average is $12.69 and its 200-day simple moving average is $9.18.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The business had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. On average, analysts forecast that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of AxoGen

Several institutional investors and hedge funds have recently bought and sold shares of AXGN. SG Americas Securities LLC purchased a new stake in shares of AxoGen during the 3rd quarter valued at $227,000. Squarepoint Ops LLC raised its position in shares of AxoGen by 186.1% during the 2nd quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider’s stock valued at $441,000 after buying an additional 39,624 shares in the last quarter. First Light Asset Management LLC raised its position in shares of AxoGen by 336.6% during the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after buying an additional 2,578,147 shares in the last quarter. Divisadero Street Capital Management LP raised its position in shares of AxoGen by 587.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after buying an additional 587,024 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its position in shares of AxoGen by 26.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock valued at $1,407,000 after buying an additional 41,095 shares in the last quarter. 80.29% of the stock is currently owned by hedge funds and other 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.