AxoGen (NASDAQ:AXGN) Trading Up 6.7% - Here's What Happened

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s share price rose 6.7% during mid-day trading on Friday . The stock traded as high as $16.31 and last traded at $16.30. Approximately 34,234 shares were traded during trading, a decline of 93% from the average daily volume of 485,064 shares. The stock had previously closed at $15.27.

Wall Street Analyst Weigh In

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

AxoGen Price 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 company's fifty day moving average is $14.57 and its 200 day moving average is $12.57. The stock has a market cap of $794.34 million, a PE ratio of -56.41 and a beta of 1.01.

Institutional Investors Weigh In On AxoGen

A number of large investors have recently added to or reduced their stakes in the company. 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. Divisadero Street Capital Management LP boosted its stake in AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider's stock valued at $4,974,000 after acquiring an additional 587,024 shares during the period. JPMorgan Chase & Co. increased its position in AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after buying an additional 530,775 shares during the period. Parkman Healthcare Partners LLC acquired a new stake in shares of AxoGen in the third quarter valued at approximately $5,789,000. Finally, FMR LLC boosted its position in AxoGen by 743.1% during the 3rd quarter. FMR LLC now owns 178,957 shares of the medical equipment provider's stock worth $2,509,000 after acquiring an additional 157,730 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

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.