AxoGen (NASDAQ:AXGN) Reaches New 12-Month High - Here's What Happened

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $18.40 and last traded at $18.05, with a volume of 1529046 shares changing hands. The stock had previously closed at $15.27.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded AxoGen from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen presently has an average rating of "Buy" and an average target price of $15.00.

AxoGen Stock Up 18.2 %

The firm has a market capitalization of $794.34 million, a PE ratio of -56.41 and a beta of 1.01. The business's fifty day moving average price is $14.65 and its 200 day moving average price is $12.69. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sentry Investment Management LLC raised its holdings 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 worth $243,000 after purchasing an additional 1,483 shares in the last quarter. Quest Partners LLC lifted its holdings 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 valued at $29,000 after buying an additional 2,076 shares during the period. Rhumbline Advisers lifted its holdings in shares of AxoGen by 6.2% in the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider's stock valued at $421,000 after buying an additional 3,380 shares during the period. nVerses Capital LLC acquired a new position in AxoGen during the third quarter worth $56,000. Finally, Franklin Resources Inc. grew its holdings in 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 period. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.