MiMedx Group (NASDAQ:MDXG) Trading Down 6.4% – Should You Sell?

MiMedx Group, Inc. (NASDAQ:MDXG)’s share price dropped 6.4% during mid-day trading on Wednesday . The company traded as low as $8.64 and last traded at $8.65. Approximately 232,076 shares changed hands during trading, a decline of 69% from the average daily volume of 745,763 shares. The stock had previously closed at $9.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MDXG shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of MiMedx Group in a research report on Thursday, August 1st. Craig Hallum lowered their target price on shares of MiMedx Group from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, StockNews.com lowered MiMedx Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.00.

MiMedx Group Price Performance

The company’s 50 day simple moving average is $6.54 and its 200 day simple moving average is $6.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.10 and a quick ratio of 3.53. The stock has a market cap of $1.35 billion, a P/E ratio of 16.76 and a beta of 1.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Isthmus Partners LLC boosted its holdings in shares of MiMedx Group by 30.4% in the second quarter. Isthmus Partners LLC now owns 393,214 shares of the company’s stock valued at $27,000 after buying an additional 91,714 shares during the period. Blue Trust Inc. bought a new stake in MiMedx Group in the 3rd quarter valued at $30,000. Point72 Asset Management L.P. acquired a new position in MiMedx Group in the 2nd quarter worth $40,000. Point72 DIFC Ltd increased its holdings in MiMedx Group by 127.6% during the 3rd quarter. Point72 DIFC Ltd now owns 7,626 shares of the company’s stock worth $45,000 after purchasing an additional 4,275 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of MiMedx Group in the 3rd quarter valued at about $64,000. 79.15% of the stock is owned by institutional investors and hedge funds.

About MiMedx Group

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue’s inherent biological properties and regulatory proteins.