MiMedx Group (NASDAQ:MDXG) Stock Price Down 7.6% – Should You Sell?

MiMedx Group, Inc (NASDAQ:MDXG)’s stock price fell 7.6% during trading on Monday. The company traded as low as $3.65 and last traded at $3.5860. 243,377 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,308,218 shares. The stock had previously closed at $3.88.

Analysts Set New Price Targets

MDXG has been the topic of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of MiMedx Group in a report on Tuesday, September 15th. Craig Hallum boosted their price target on MiMedx Group from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Seaport Research Partners downgraded MiMedx Group to a “neutral” rating in a research note on Monday, August 17th. Wall Street Zen raised MiMedx Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings downgraded MiMedx Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.14.

MiMedx Group Trading Down 9.4%

The company has a market capitalization of $512.94 million, a price-to-earnings ratio of -27.19 and a beta of 1.17. The firm’s 50 day simple moving average is $4.49 and its 200-day simple moving average is $4.29.

MiMedx Group (NASDAQ:MDXG) last issued its earnings results on Wednesday, October 28th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $62.28 million during the quarter, compared to analysts’ expectations of $68.56 million. MiMedx Group had a negative net margin of 6.32% and a positive return on equity of 2.39%. As a group, sell-side analysts forecast that MiMedx Group, Inc will post -0.10 EPS for the current fiscal year.

Institutional Trading of MiMedx Group

Hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC acquired a new position in MiMedx Group during the third quarter worth $62,000. Vise Technologies Inc. acquired a new stake in MiMedx Group in the third quarter valued at $83,000. State of Wyoming boosted its position in shares of MiMedx Group by 347.2% during the 3rd quarter. State of Wyoming now owns 324,492 shares of the company’s stock worth $1,512,000 after purchasing an additional 251,932 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of MiMedx Group by 3.5% during the 3rd quarter. Isthmus Partners LLC now owns 549,411 shares of the company’s stock worth $2,560,000 after purchasing an additional 18,702 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of MiMedx Group by 59.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 141,091 shares of the company’s stock worth $662,000 after purchasing an additional 52,824 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

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.