AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 50.8% in January

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,870,000 shares, a growth of 50.8% from the January 15th total of 1,240,000 shares. Based on an average daily trading volume, of 416,600 shares, the short-interest ratio is currently 4.5 days.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their target price on AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of AxoGen by 8.3% in the fourth quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock worth $264,000 after purchasing an additional 1,228 shares in the last quarter. Sentry Investment Management LLC boosted its stake in AxoGen by 9.3% during the third quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider’s stock valued at $243,000 after buying an additional 1,483 shares in the last quarter. Rhumbline Advisers boosted its stake in AxoGen by 2.7% during the fourth quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider’s stock valued at $960,000 after buying an additional 1,521 shares in the last quarter. R Squared Ltd bought a new position in AxoGen during the fourth quarter valued at about $30,000. Finally, US Bancorp DE bought a new position in AxoGen during the fourth quarter valued at about $30,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Trading Up 1.5 %

NASDAQ:AXGN opened at $17.79 on Thursday. AxoGen has a 1 year low of $5.55 and a 1 year high of $19.18. The business has a fifty day moving average of $16.79 and a 200-day moving average of $14.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

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.