AxoGen (NASDAQ:AXGN) Shares Gap Down - Here's Why

Key Points

• AxoGen (NASDAQ:AXGN) shares opened at **$14.25** after closing at **$16.26**, marking a significant **gap down** in trading before the market opened.
• Recent analyst updates reflect a **mixed outlook**; Canaccord Genuity lowered their target price from **$26.00 to $24.00**, while Wall Street Zen upgraded AxoGen from a "hold" to a "buy" rating.
• **Institutional investors** have shown increasing interest, with notable purchases and increases in holdings from firms like Tower Research Capital and AlphaQuest, contributing to **80.29%** of the stock being owned by institutional investors.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $16.26, but opened at $14.25. AxoGen shares last traded at $14.87, with a volume of 894,373 shares trading hands.

Wall Street Analysts Forecast Growth

AXGN has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, AxoGen has an average rating of "Buy" and an average target price of $26.00.

AxoGen Trading Down 12.0%

The stock has a fifty day moving average of $12.38 and a 200 day moving average of $14.44. The company has a market capitalization of $658.45 million, a P/E ratio of -141.84 and a beta of 1.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new position in AxoGen in the 4th quarter worth $31,000. Tower Research Capital LLC TRC raised its holdings in AxoGen by 189.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider's stock worth $55,000 after purchasing an additional 3,327 shares during the period. AlphaQuest LLC raised its holdings in AxoGen by 882.2% in the 2nd quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider's stock worth $68,000 after purchasing an additional 5,637 shares during the period. PNC Financial Services Group Inc. raised its holdings in AxoGen by 120.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,077 shares of the medical equipment provider's stock worth $88,000 after purchasing an additional 4,409 shares during the period. Finally, Fifth Third Bancorp bought a new position in AxoGen in the 1st quarter worth $92,000. 80.29% of the stock is owned by 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.

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