Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Rises By 20.4%

AxoGen, Inc. (NASDAQ:AXGN) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,240,000 shares, a growth of 20.4% from the December 31st total of 1,030,000 shares. Based on an average trading volume of 426,600 shares, the days-to-cover ratio is currently 2.9 days.

AxoGen Stock Performance

AxoGen stock traded down $0.29 during mid-day trading on Monday, reaching $17.92. 312,767 shares of the stock traded hands, compared to its average volume of 552,446. AxoGen has a 12-month low of $5.55 and a 12-month high of $19.06. The business’s 50-day moving average is $16.16 and its 200-day moving average is $13.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The stock has a market capitalization of $788.66 million, a PE ratio of -56.00 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXGN. Canaccord Genuity Group boosted their price target on AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th.

Institutional Trading of AxoGen

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares during the period. State Street Corp lifted its holdings in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after purchasing an additional 530,775 shares during the period. Parkman Healthcare Partners LLC purchased a new stake in shares of AxoGen in the third quarter worth $5,789,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of AxoGen by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 363,764 shares of the medical equipment provider’s stock valued at $5,100,000 after purchasing an additional 28,659 shares during the period. Institutional investors own 80.29% of the company’s stock.

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.