Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Decreases By 25.8%

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,210,000 shares, a decrease of 25.8% from the September 15th total of 1,630,000 shares. Based on an average trading volume of 439,100 shares, the days-to-cover ratio is presently 2.8 days.

AxoGen Price Performance

NASDAQ:AXGN opened at $14.71 on Friday. The stock has a 50 day moving average of $12.82 and a two-hundred day moving average of $9.24. AxoGen has a 12 month low of $3.45 and a 12 month high of $15.08. The firm has a market cap of $642.90 million, a P/E ratio of -29.42 and a beta of 1.13. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The firm had revenue of $47.91 million during the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. On average, analysts expect that AxoGen will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the business. Koss Olinger Consulting LLC acquired a new stake in AxoGen in the 2nd quarter valued at about $75,000. Lazard Asset Management LLC increased its holdings 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 valued at $93,000 after purchasing an additional 2,671 shares during the last quarter. Acadian Asset Management LLC purchased a new position in AxoGen during the second quarter worth approximately $125,000. BNP Paribas Financial Markets boosted its stake in AxoGen by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after buying an additional 1,651 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in AxoGen during the third quarter worth $227,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXGN has been the topic of several recent research reports. JMP Securities upped their price target on shares of AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Raymond James initiated coverage on AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of AxoGen in a research note on Thursday, June 20th. Finally, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $13.80.

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.