AxoGen (NASDAQ:AXGN) Trading Up 6.7% – Still a Buy?

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

Wall Street Analysts Forecast Growth

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

AxoGen Trading Up 17.6 %

The firm has a market capitalization of $789.94 million, a P/E ratio of -56.09 and a beta of 1.01. 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 firm has a fifty day simple moving average of $14.57 and a two-hundred day simple moving average of $12.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake 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 acquiring an additional 31,612 shares in the last quarter. Divisadero Street Capital Management LP lifted 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 worth $4,974,000 after acquiring an additional 587,024 shares during the period. FMR LLC increased 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 valued at $2,509,000 after purchasing an additional 157,730 shares during the period. Barclays PLC raised its holdings in AxoGen by 119.3% in the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock worth $1,010,000 after purchasing an additional 39,182 shares in the last quarter. Finally, State Street Corp lifted its position in shares of AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after purchasing an additional 95,051 shares during the period. Hedge funds and other institutional investors 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.