AxoGen, Inc. (NASDAQ:AXGN) Sees Significant Decline in Short Interest

AxoGen, Inc. (NASDAQ:AXGN) saw a significant decline in short interest in 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 volume of 430,300 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of AxoGen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC increased its stake in shares of AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 2,076 shares during the period. nVerses Capital LLC bought a new position in shares of AxoGen during the third quarter valued at about $56,000. Koss Olinger Consulting LLC purchased a new stake in shares of AxoGen during the second quarter worth about $75,000. Lazard Asset Management LLC grew its stake in shares of AxoGen by 30.1% in 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 last quarter. Finally, Acadian Asset Management LLC purchased a new position in AxoGen during the 2nd quarter valued at about $125,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Price Performance

NASDAQ AXGN opened at $12.80 on Tuesday. The company has a 50-day simple moving average of $13.78 and a two-hundred day simple moving average of $10.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen has a 12-month low of $5.55 and a 12-month high of $15.90.

Wall Street Analyst Weigh In

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

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.