AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 8.5% in June

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,920,000 shares, a growth of 8.5% from the May 31st total of 1,770,000 shares. Based on an average daily trading volume, of 319,200 shares, the days-to-cover ratio is presently 6.0 days.

AxoGen Price Performance

AXGN stock traded up $0.14 during mid-day trading on Wednesday, reaching $7.66. 320,989 shares of the company’s stock were exchanged, compared to its average volume of 382,764. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.43 and a quick ratio of 2.23. AxoGen has a 12-month low of $3.45 and a 12-month high of $10.83. The stock’s 50 day moving average is $6.68 and its 200 day moving average is $7.81. The company has a market cap of $334.82 million, a price-to-earnings ratio of -15.04 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. AxoGen had a negative return on equity of 22.18% and a negative net margin of 12.99%. The business had revenue of $41.38 million during the quarter, compared to the consensus estimate of $42.05 million. On average, research analysts expect that AxoGen will post -0.48 EPS for the current year.

Hedge Funds Weigh In On AxoGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in shares of AxoGen by 534.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 6,575 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in AxoGen during the 3rd quarter worth approximately $83,000. Lazard Asset Management LLC raised its holdings in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of AxoGen by 45.9% in the fourth quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock valued at $101,000 after acquiring an additional 4,666 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of AxoGen in the fourth quarter valued at approximately $131,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. Raymond James began coverage on shares of AxoGen in a report on Monday. They set an “outperform” rating and a $13.00 target price for the company. Finally, StockNews.com downgraded shares of AxoGen from a “buy” rating to a “hold” rating in a report on Monday, May 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

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.