MiMedx Group (NASDAQ:MDXG) Shares Gap Down - What's Next?

Key Points

• MiMedx shares fell 7.2%, opening at $3.62 versus a prior close of $3.95, and last traded near $3.68. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans positive: the consensus rating is “Moderate Buy” with an $8.14 price target, despite Seaport Research Partners downgrading the stock to neutral.
• MiMedx’s latest quarterly results missed estimates, reporting a $0.01-per-share loss and $62.28 million in revenue versus the $68.56 million consensus forecast. Institutional investors own approximately 79.15% of the company.

MiMedx Group, Inc (NASDAQ:MDXG - Get Free Report)'s share price gapped down prior to trading on Thursday. The stock had previously closed at $3.95, but opened at $3.62. MiMedx Group shares last traded at $3.6750, with a volume of 319,713 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on MDXG shares. Seaport Research Partners cut MiMedx Group to a "neutral" rating in a research note on Monday, August 17th. Wall Street Zen upgraded shares of MiMedx Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Raymond James Financial set a $8.00 target price on shares of MiMedx Group in a report on Monday, August 17th. Weiss Ratings upgraded shares of MiMedx Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of MiMedx Group in a report on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, MiMedx Group has an average rating of "Moderate Buy" and a consensus price target of $8.14.

MiMedx Group Stock Down 7.2%

The company has a quick ratio of 4.79, a current ratio of 5.33 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average price is $4.50 and its 200 day moving average price is $4.31. The firm has a market cap of $534.21 million, a P/E ratio of 91.65 and a beta of 1.18.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.01) earnings per share for the quarter. MiMedx Group had a net margin of 1.76% and a return on equity of 12.09%. The firm had revenue of $62.28 million during the quarter, compared to the consensus estimate of $68.56 million. As a group, research analysts expect that MiMedx Group, Inc will post -0.10 earnings per share for the current year.

Institutional Trading of MiMedx Group

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in MiMedx Group by 2,422.5% during the third quarter. GAMMA Investing LLC now owns 7,719 shares of the company's stock valued at $36,000 after buying an additional 7,413 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in MiMedx Group during the first quarter worth about $42,000. E Fund Management Co. Ltd. acquired a new position in MiMedx Group during the second quarter worth about $45,000. Legal & General Group Plc bought a new stake in MiMedx Group in the second quarter worth about $45,000. Finally, Syon Capital LLC bought a new stake in MiMedx Group in the second quarter worth about $45,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

About MiMedx Group

MiMedx Group, Inc NASDAQ: MDXG is a biotechnology company focused on developing and commercializing human placental tissue allografts for wound care and other medical applications. The company's products are derived from donated placental tissue and are processed using its proprietary PURION technology platform.

MiMedx's portfolio includes tissue-based products such as EPIFIX and EPICORD, which are used primarily by healthcare professionals in the management of chronic and acute wounds, including diabetic foot ulcers and other hard-to-heal wounds.

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