AxoGen (NASDAQ:AXGN) Shares Down 6.1% – Time to Sell?

AxoGen, Inc. (NASDAQ:AXGN)’s share price traded down 6.1% during trading on Tuesday . The company traded as low as $17.84 and last traded at $18.12. 391,834 shares were traded during mid-day trading, a decline of 28% from the average session volume of 541,548 shares. The stock had previously closed at $19.29.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th.

AxoGen Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The business’s fifty day moving average price is $17.79 and its 200-day moving average price is $15.17. The stock has a market capitalization of $825.69 million, a price-to-earnings ratio of -58.19 and a beta of 1.00.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its holdings in shares of AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares in the last quarter. R Squared Ltd purchased a new stake in AxoGen in the 4th quarter valued at $30,000. US Bancorp DE bought a new position in AxoGen during the 4th quarter valued at $30,000. State of Wyoming purchased a new position in AxoGen during the 4th quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of AxoGen in the 4th quarter worth $93,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

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.