AxoGen (NASDAQ:AXGN) Trading Down 6.1% – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) dropped 6.1% during trading on Tuesday . The company traded as low as $17.84 and last traded at $18.12. Approximately 391,834 shares changed hands during trading, a decline of 28% from the average daily volume of 541,548 shares. The stock had previously closed at $19.29.

Wall Street Analyst Weigh In

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

AxoGen Trading Down 3.5 %

The firm has a 50 day moving average of $17.79 and a 200 day moving average of $15.17. The firm has a market cap of $825.69 million, a PE ratio of -58.19 and a beta of 1.00. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC increased its holdings in AxoGen by 166.0% in the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider’s stock worth $15,729,000 after acquiring an additional 595,579 shares during the last quarter. JPMorgan Chase & Co. boosted its position in AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after purchasing an additional 530,775 shares during the period. First Light Asset Management LLC increased its stake in shares of AxoGen by 10.2% in the fourth quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider’s stock worth $74,272,000 after purchasing an additional 416,499 shares in the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of AxoGen in the third quarter valued at approximately $5,789,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of AxoGen during the 4th quarter valued at approximately $4,943,000. 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.