AxoGen (NASDAQ:AXGN) Shares Up 6.7% – Time to Buy?

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

Analyst Ratings Changes

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

AxoGen Stock Up 18.4 %

The business has a 50 day simple moving average of $14.57 and a 200-day simple moving average of $12.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The firm has a market capitalization of $795.66 million, a price-to-earnings ratio of -56.50 and a beta of 1.01.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AXGN. First Light Asset Management LLC raised its position in AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after purchasing an additional 2,578,147 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares in the last quarter. State Street Corp lifted its position in shares of AxoGen by 11.9% during 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 last quarter. Divisadero Street Capital Management LP lifted its holdings in AxoGen by 587.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after buying an additional 587,024 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after acquiring an additional 530,775 shares during the last quarter. 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.