AxoGen (NASDAQ:AXGN) Hits New 1-Year High – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $16.48 and last traded at $15.86, with a volume of 167847 shares changing hands. The stock had previously closed at $15.64.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of 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.com, the stock has a consensus rating of “Buy” and an average price target of $15.00.

AxoGen Price Performance

The company has a market cap of $693.13 million, a price-to-earnings ratio of -49.22 and a beta of 1.06. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $13.91 and a two-hundred day moving average price of $11.78.

Institutional Investors Weigh In On AxoGen

Several institutional investors and hedge funds have recently bought and sold shares of AXGN. First Light Asset Management LLC grew its stake in shares of 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 during the period. Divisadero Street Capital Management LP grew its position 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 valued at $4,974,000 after acquiring an additional 587,024 shares during the period. Parkman Healthcare Partners LLC acquired a new position in AxoGen during the third quarter worth $5,789,000. FMR LLC lifted its holdings in shares of AxoGen by 743.1% during the third quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock valued at $2,509,000 after acquiring an additional 157,730 shares during the period. Finally, Eagle Asset Management Inc. acquired a new stake in shares of AxoGen in the 3rd quarter valued at $1,728,000. 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.