Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Drops By 7.1%

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,050,000 shares, a decrease of 7.1% from the October 31st total of 1,130,000 shares. Based on an average daily volume of 398,100 shares, the short-interest ratio is presently 2.6 days.

AxoGen Price Performance

Shares of NASDAQ:AXGN opened at $14.56 on Tuesday. The company’s fifty day moving average is $13.68 and its two-hundred day moving average is $10.91. AxoGen has a 12-month low of $5.55 and a 12-month high of $15.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXGN. First Light Asset Management LLC increased its holdings in shares of AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after purchasing an additional 2,578,147 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after acquiring an additional 1,248,823 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after acquiring an additional 31,612 shares in the last quarter. State Street Corp boosted its position in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares during the last quarter. Finally, Divisadero Street Capital Management LP grew its stake in AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after purchasing an additional 587,024 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

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.