AxoGen (NASDAQ:AXGN) Stock Price Down 4.8% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

AxoGen Trading Down 5.2 %

The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $14.45 and a 200 day moving average price of $12.29. The stock has a market capitalization of $684.32 million, a PE ratio of -48.59 and a beta of 1.06.

Institutional Investors Weigh In On AxoGen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC boosted its stake in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 2,076 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of AxoGen in the 3rd quarter worth approximately $56,000. Koss Olinger Consulting LLC purchased a new position in shares of AxoGen in the 2nd quarter worth approximately $75,000. Oppenheimer & Co. Inc. purchased a new position in shares of AxoGen in the 3rd quarter worth approximately $156,000. Finally, Quantbot Technologies LP purchased a new position in shares of AxoGen in the 3rd quarter worth approximately $165,000. 80.29% of the stock is 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.