MiMedx Group (NASDAQ:MDXG) Shares Gap Up to $6.35

Posted by on Jul 16th, 2023

Shares of MiMedx Group, Inc. (NASDAQ:MDXG – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $6.35, but opened at $6.53. MiMedx Group shares last traded at $6.59, with a volume of 208,052 shares.

Analyst Upgrades and Downgrades

MDXG has been the subject of several recent research reports. HC Wainwright decreased their target price on shares of MiMedx Group from $9.50 to $8.00 in a research report on Wednesday, June 21st. StockNews.com raised shares of MiMedx Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

MiMedx Group Trading Up 5.7 %

The company’s fifty day moving average is $6.07 and its 200-day moving average is $4.59. The firm has a market capitalization of $775.68 million, a P/E ratio of -23.96 and a beta of 1.54.

MiMedx Group (NASDAQ:MDXG – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $71.68 million for the quarter, compared to the consensus estimate of $63.48 million. On average, equities research analysts anticipate that MiMedx Group, Inc. will post 0.02 EPS for the current year.

Insider Activity at MiMedx Group

In related news, CAO William Frank Iv Hulse sold 5,870 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.93, for a total transaction of $34,809.10. Following the completion of the transaction, the chief accounting officer now directly owns 456,564 shares in the company, valued at approximately $2,707,424.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Robert Benjamin Stein sold 51,756 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $5.34, for a total value of $276,377.04. Following the completion of the transaction, the insider now owns 337,644 shares in the company, valued at approximately $1,803,018.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO William Frank Iv Hulse sold 5,870 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.93, for a total transaction of $34,809.10. Following the completion of the transaction, the chief accounting officer now owns 456,564 shares of the company’s stock, valued at approximately $2,707,424.52. The disclosure for this sale can be found here. Insiders sold a total of 91,987 shares of company stock worth $474,642 in the last ninety days. 19.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MiMedx Group

A number of hedge funds have recently made changes to their positions in MDXG. Federated Hermes Inc. raised its stake in shares of MiMedx Group by 2,943.6% in the 1st quarter. Federated Hermes Inc. now owns 1,718,749 shares of the company’s stock valued at $8,095,000 after buying an additional 1,662,278 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of MiMedx Group by 87.0% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 3,450,402 shares of the company’s stock valued at $11,766,000 after buying an additional 1,605,102 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MiMedx Group by 28.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,018,658 shares of the company’s stock valued at $17,274,000 after buying an additional 1,349,728 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in shares of MiMedx Group in the 4th quarter valued at $3,190,000. Finally, Altium Capital Management LP acquired a new position in shares of MiMedx Group in the 1st quarter valued at $2,551,000. Institutional investors and hedge funds own 59.27% of the company’s stock.

MiMedx Group Company Profile

(Get Free Report)

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue's inherent biological properties and regulatory proteins.

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