AxoGen (NASDAQ:AXGN) Shares Down 4.8% - Here's What Happened

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s stock price traded down 4.8% on Tuesday . The company traded as low as $16.35 and last traded at $16.36. 77,254 shares traded hands during trading, a decline of 80% from the average session volume of 390,326 shares. The stock had previously closed at $17.19.

Analyst Upgrades and Downgrades

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

AxoGen Trading Down 5.4 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The company's 50 day moving average price is $14.01 and its 200 day moving average price is $11.92. The company has a market cap of $715.57 million, a price-to-earnings ratio of -50.81 and a beta of 1.06.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently bought and sold shares of AXGN. First Light Asset Management LLC lifted 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 worth $24,211,000 after purchasing an additional 2,578,147 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider's stock worth $14,170,000 after buying an additional 31,612 shares during the last quarter. State Street Corp grew its stake in shares of AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock worth $12,571,000 after acquiring an additional 95,051 shares during the last quarter. Divisadero Street Capital Management LP increased its position in AxoGen by 587.2% during the second 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 during the period. Finally, Parkman Healthcare Partners LLC acquired a new position in shares of AxoGen during the third quarter valued at about $5,789,000. 80.29% of the stock is currently owned by 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.