AxoGen (NASDAQ:AXGN) Stock Price Down 4.8% – Should You Sell?

AxoGen, Inc. (NASDAQ:AXGN)’s share price dropped 4.8% during trading on Tuesday . The stock traded as low as $16.35 and last traded at $16.36. Approximately 77,254 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 390,326 shares. The stock had previously closed at $17.19.

Analyst Ratings Changes

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

AxoGen Stock Performance

The stock has a fifty day moving average of $13.97 and a 200-day moving average of $11.85. 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 stock has a market cap of $720.41 million, a PE ratio of -51.16 and a beta of 1.06.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently modified their holdings of AXGN. Quest Partners LLC boosted 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 acquiring an additional 2,076 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of AxoGen during the 3rd quarter worth approximately $56,000. Koss Olinger Consulting LLC acquired a new stake in shares of AxoGen in the 2nd quarter valued at approximately $75,000. Acadian Asset Management LLC purchased a new stake in shares of AxoGen in the second quarter valued at approximately $125,000. Finally, Oppenheimer & Co. Inc. acquired a new position in AxoGen during the third quarter worth $156,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.