MiMedx Group (NASDAQ:MDXG) Shares Gap Down – What’s Next?

MiMedx Group, Inc (NASDAQ:MDXG) shares 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen upgraded MiMedx Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Craig Hallum boosted their target price on MiMedx Group from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Weiss Ratings downgraded MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Raymond James Financial set a $8.00 target price on shares of MiMedx Group in a report on Monday, August 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of MiMedx Group in a research note on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.14.

MiMedx Group Stock Down 2.3%

The company has a market cap of $565.55 million, a price-to-earnings ratio of -29.85 and a beta of 1.18. The firm has a 50 day moving average price of $4.49 and a two-hundred day moving average price of $4.29.

MiMedx Group (NASDAQ:MDXG) last posted its quarterly earnings data on Wednesday, October 28th. The company reported ($0.01) EPS for the quarter. MiMedx Group had a positive return on equity of 2.39% and a negative net margin of 6.32%. The company had revenue of $62.28 million during the quarter, compared to analyst estimates of $68.56 million. On average, equities analysts expect that MiMedx Group, Inc will post -0.10 earnings per share for the current year.

Institutional Investors Weigh In On MiMedx Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Punch & Associates Investment Management Inc. purchased a new stake in shares of MiMedx Group during the 2nd quarter worth approximately $7,924,000. Squarepoint Ops LLC lifted its stake in MiMedx Group by 73.7% in the second quarter. Squarepoint Ops LLC now owns 571,930 shares of the company’s stock valued at $2,202,000 after purchasing an additional 242,714 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in MiMedx Group in the second quarter valued at approximately $15,681,000. Nantahala Capital Management LLC purchased a new position in MiMedx Group in the second quarter valued at approximately $18,355,075. Finally, Bank of New York Mellon Corp bought a new position in MiMedx Group during the second quarter valued at $1,629,000. Institutional investors own 79.15% of the company’s stock.

MiMedx Group Company Profile

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.