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

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

Wall Street Analysts Forecast Growth

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

AxoGen Stock Performance

Shares of NASDAQ:AXGN traded up $0.41 during midday trading on Monday, reaching $14.31. The company’s stock had a trading volume of 143,454 shares, compared to its average volume of 397,517. The firm has a market capitalization of $629.78 million, a PE ratio of -43.84 and a beta of 1.13. The stock has a fifty day moving average of $13.68 and a 200 day moving average of $10.91. AxoGen has a twelve month low of $5.55 and a twelve month high of $15.90. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC grew its holdings in shares of AxoGen by 23,066.7% during 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 in the last quarter. nVerses Capital LLC acquired a new stake in AxoGen in the 3rd quarter valued at about $56,000. Koss Olinger Consulting LLC acquired a new stake in AxoGen in the 2nd quarter valued at about $75,000. Lazard Asset Management LLC boosted its holdings in shares of AxoGen by 30.1% during the 1st 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 stake in shares of AxoGen in the second quarter valued at approximately $125,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.