AxoGen (NASDAQ:AXGN) Reaches New 52-Week High – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $19.18 and last traded at $18.47, with a volume of 22740 shares changing hands. The stock had previously closed at $18.88.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AXGN. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Canaccord Genuity Group upped their price objective on AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd.

AxoGen Price Performance

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 business’s fifty day moving average price is $16.60 and its 200 day moving average price is $14.07.

Institutional Trading of AxoGen

A number of hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC grew its position in AxoGen by 23,066.7% in 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 during the last quarter. R Squared Ltd acquired a new position in shares of AxoGen during the fourth quarter worth about $30,000. US Bancorp DE purchased a new position in AxoGen during the fourth quarter worth about $30,000. nVerses Capital LLC acquired a new stake in AxoGen in the third quarter valued at about $56,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in AxoGen in the 3rd quarter valued at approximately $156,000. 80.29% of the stock is 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.