Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Decreases By 8.1%

AxoGen, Inc. (NASDAQ:AXGN) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,130,000 shares, a decline of 8.1% from the October 15th total of 1,230,000 shares. Based on an average daily trading volume, of 430,300 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

AXGN has been the subject of a number of analyst reports. JMP Securities increased their price target 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 research report on Tuesday, October 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.00.

AxoGen Trading Up 1.4 %

Shares of AxoGen stock opened at $12.64 on Monday. The stock has a fifty day moving average price of $13.79 and a 200-day moving average price of $10.38. 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 firm has a market cap of $556.26 million, a PE ratio of -39.50 and a beta of 1.13. AxoGen has a 1 year low of $5.43 and a 1 year high of $15.90.

Institutional Investors Weigh In On AxoGen

A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock valued at $168,000 after buying an additional 1,651 shares during the period. Roubaix Capital LLC purchased a new stake in AxoGen during the first quarter valued at about $351,000. Lazard Asset Management LLC boosted its position 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 worth $93,000 after purchasing an additional 2,671 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of AxoGen by 8.0% in the first 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 in the last quarter. Finally, First Light Asset Management LLC raised its position in shares of AxoGen by 177.0% in the first quarter. First Light Asset Management LLC now owns 765,886 shares of the medical equipment provider’s stock valued at $6,181,000 after purchasing an additional 489,397 shares during the period. Institutional investors own 80.29% of the company’s stock.

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.