AxoGen (NASDAQ:AXGN) Sets New 1-Year High – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $19.19 and last traded at $18.87, with a volume of 91274 shares traded. The stock had previously closed at $18.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their price objective on shares of AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd.

AxoGen Trading Down 2.8 %

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 firm’s 50 day simple moving average is $17.21 and its 200-day simple moving average is $14.65. The company has a market capitalization of $791.30 million, a PE ratio of -56.19 and a beta of 1.00.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently bought and sold shares of AXGN. Creative Planning boosted its stake in shares of AxoGen by 152.2% in the third quarter. Creative Planning now owns 29,790 shares of the medical equipment provider’s stock valued at $418,000 after purchasing an additional 17,980 shares during the period. Semanteon Capital Management LP bought a new position in AxoGen during the 3rd quarter valued at $603,000. Sentry Investment Management LLC boosted its stake in AxoGen by 9.3% during the 3rd quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock valued at $243,000 after acquiring an additional 1,483 shares during the last quarter. Principal Financial Group Inc. bought a new position in AxoGen during the 3rd quarter valued at $207,000. Finally, Primoris Wealth Advisors LLC bought a new position in AxoGen during the 3rd quarter valued at $207,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.