AxoGen (NASDAQ:AXGN) Stock Price Up 6.7% – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

AxoGen Trading Up 18.2 %

The stock has a fifty day simple moving average of $14.65 and a 200 day simple moving average of $12.69. The firm has a market capitalization of $794.34 million, a P/E ratio of -56.41 and a beta of 1.01. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AXGN. Quest Partners LLC grew its holdings in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 2,076 shares in the last quarter. nVerses Capital LLC purchased a new position in AxoGen during the third quarter valued at $56,000. Acadian Asset Management LLC bought a new stake in AxoGen in the 2nd quarter valued at $125,000. Oppenheimer & Co. Inc. purchased a new stake in AxoGen in the 3rd quarter worth $156,000. Finally, Quantbot Technologies LP bought a new position in shares of AxoGen during the 3rd quarter valued at about $165,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.