AxoGen (NASDAQ:AXGN) Trading Down 4.8% - What's Next?

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

Analysts Set New Price Targets

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

AxoGen Stock Performance

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 market cap of $708.97 million, a P/E ratio of -50.34 and a beta of 1.06. The business has a fifty day simple moving average of $14.50 and a 200-day simple moving average of $12.35.

Hedge Funds Weigh In On AxoGen

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of AxoGen by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider's stock worth $1,165,000 after buying an additional 13,798 shares during the last quarter. Rhumbline Advisers grew its stake in shares of AxoGen by 6.2% in the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider's stock worth $421,000 after acquiring an additional 3,380 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of AxoGen in the 2nd quarter worth about $125,000. Koss Olinger Consulting LLC bought a new stake in AxoGen during the 2nd quarter valued at about $75,000. Finally, Rice Hall James & Associates LLC raised its holdings in AxoGen by 26.8% in the second quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider's stock worth $1,407,000 after buying an additional 41,095 shares during the last quarter. 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.