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

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

Analyst Upgrades and Downgrades

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

AxoGen Stock Performance

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 firm’s 50-day moving average is $17.21 and its two-hundred day moving average is $14.65. The stock has a market cap of $791.30 million, a price-to-earnings ratio of -56.19 and a beta of 1.00.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently modified their holdings of AXGN. Quest Partners LLC increased its position in AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 2,076 shares during the last quarter. R Squared Ltd acquired a new position in AxoGen during the fourth quarter worth approximately $30,000. US Bancorp DE acquired a new position in AxoGen during the fourth quarter worth approximately $30,000. State of Wyoming acquired a new position in AxoGen during the fourth quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in AxoGen during the fourth quarter worth approximately $93,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

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.