Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Decreases By 7.1%

AxoGen, Inc. (NASDAQ:AXGN) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a drop of 7.1% from the October 31st total of 1,130,000 shares. Based on an average daily volume of 398,100 shares, the days-to-cover ratio is currently 2.6 days.

AxoGen Stock Performance

AXGN traded up $0.41 during midday trading on Monday, reaching $14.31. The company had a trading volume of 143,454 shares, compared to its average volume of 397,517. AxoGen has a 1 year low of $5.55 and a 1 year high of $15.90. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The company has a market cap of $629.78 million, a P/E ratio of -43.84 and a beta of 1.13. The business has a 50-day moving average of $13.68 and a two-hundred day moving average of $10.91.

Institutional Trading of AxoGen

A number of hedge funds and other institutional investors have recently modified their holdings of AXGN. Lazard Asset Management LLC raised its holdings in AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after purchasing an additional 2,204 shares during the period. Assenagon Asset Management S.A. raised its position in shares of AxoGen by 2,014.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after buying an additional 1,248,823 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of AxoGen by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider’s stock worth $1,165,000 after buying an additional 13,798 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of AxoGen by 6.2% during the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after acquiring an additional 3,380 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXGN has been the subject of a number of research reports. JMP Securities upped their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.00.

About AxoGen

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.