AxoGen, Inc. (NASDAQ:AXGN) Short Interest Update

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 daily volume of 426,600 shares, the short-interest ratio is currently 2.9 days.

AxoGen Price Performance

AxoGen stock traded down $0.29 during mid-day trading on Monday, hitting $17.92. 312,767 shares of the company traded hands, compared to its average volume of 552,446. The stock has a fifty day moving average price of $16.16 and a 200-day moving average price of $13.82. The stock has a market cap of $788.66 million, a price-to-earnings ratio of -56.00 and a beta of 1.00. AxoGen has a one year low of $5.55 and a one year high of $19.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Institutional Investors Weigh In On AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC increased its stake in shares of AxoGen by 186.1% in the second quarter. Squarepoint Ops LLC now owns 60,913 shares of the medical equipment provider’s stock worth $441,000 after buying an additional 39,624 shares during the period. SG Americas Securities LLC bought a new stake in AxoGen in the 3rd quarter worth $227,000. Creative Planning increased its position in shares of AxoGen by 152.2% in the third quarter. Creative Planning now owns 29,790 shares of the medical equipment provider’s stock valued at $418,000 after acquiring an additional 17,980 shares during the period. nVerses Capital LLC bought a new position in shares of AxoGen during the third quarter valued at about $56,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of AxoGen during the third quarter worth about $603,000. Institutional investors own 80.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AXGN has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Canaccord Genuity Group boosted their target price on AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday.

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.