AxoGen (NASDAQ:AXGN) Shares Down 4.3% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price traded down 4.3% during trading on Thursday . The stock traded as low as $13.66 and last traded at $13.84. 50,139 shares traded hands during trading, a decline of 87% from the average session volume of 399,537 shares. The stock had previously closed at $14.46.

Analyst Ratings Changes

A number of research firms have weighed in on AXGN. JMP Securities upped their price target on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 target price on shares of AxoGen in a research report on Thursday, June 20th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Raymond James began coverage on shares of AxoGen in a report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.00.

AxoGen Trading Down 4.1 %

The firm has a market cap of $605.75 million, a P/E ratio of -28.92 and a beta of 1.13. The business’s 50 day moving average is $13.21 and its 200-day moving average is $9.37. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70.

AxoGen (NASDAQ:AXGN) last released its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share 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 company had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. As a group, analysts forecast that AxoGen, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AXGN. First Light Asset Management LLC grew its position in shares of AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock worth $24,211,000 after acquiring an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after acquiring an additional 1,248,823 shares in the last quarter. Divisadero Street Capital Management LP grew its position in shares of AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after acquiring an additional 587,024 shares in the last quarter. Kent Lake Capital LLC acquired a new position in shares of AxoGen in the 1st quarter worth approximately $1,617,000. Finally, Roubaix Capital LLC acquired a new position in shares of AxoGen in the 1st quarter worth approximately $351,000. Institutional investors and hedge funds 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.