AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 8.5% in June

AxoGen, Inc. (NASDAQ:AXGN) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,920,000 shares, a growth of 8.5% from the May 31st total of 1,770,000 shares. Based on an average trading volume of 319,200 shares, the short-interest ratio is currently 6.0 days.

Hedge Funds Weigh In On AxoGen

Several hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of AxoGen by 534.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 6,575 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in AxoGen in the third quarter worth approximately $83,000. Lazard Asset Management LLC increased its holdings in shares of AxoGen by 30.1% in the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after buying an additional 2,671 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of AxoGen by 45.9% during the 4th quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock valued at $101,000 after acquiring an additional 4,666 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new stake in shares of AxoGen during the 4th quarter worth $131,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded up $0.14 during trading on Wednesday, reaching $7.66. The stock had a trading volume of 320,989 shares, compared to its average volume of 382,764. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. The stock has a market cap of $334.82 million, a PE ratio of -15.04 and a beta of 1.11. AxoGen has a one year low of $3.45 and a one year high of $10.83. The firm’s 50 day moving average price is $6.68 and its two-hundred day moving average price is $7.81.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. The company had revenue of $41.38 million for the quarter, compared to analysts’ expectations of $42.05 million. On average, research analysts forecast that AxoGen will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AXGN shares. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price objective on shares of AxoGen in a report on Thursday, June 20th. StockNews.com lowered shares of AxoGen from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Raymond James assumed coverage on shares of AxoGen in a report on Monday. They issued an “outperform” rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

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.