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

AxoGen, Inc. (NASDAQ:AXGN) shares were down 4.8% during trading on Tuesday . The company 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.

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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen has an average rating of “Buy” and a consensus target price of $15.00.

AxoGen Stock Down 4.8 %

The business has a 50 day simple moving average of $13.97 and a 200 day simple moving average of $11.85. The company has a market capitalization of $720.41 million, a price-to-earnings ratio of -51.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. First Light Asset Management LLC increased its holdings in AxoGen by 336.6% during 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 purchasing an additional 2,578,147 shares during the period. Geode Capital Management LLC raised its holdings in AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares in the last quarter. State Street Corp raised its holdings in AxoGen by 11.9% in the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after acquiring an additional 95,051 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 last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in AxoGen during the 3rd quarter worth approximately $5,789,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.