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

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a large decrease in short interest during 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 trading volume, of 398,100 shares, the short-interest ratio is presently 2.6 days.

Institutional Trading of AxoGen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its holdings in shares of AxoGen by 30.1% in the 1st 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. Price T Rowe Associates Inc. MD lifted its stake in shares of AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after purchasing an additional 2,204 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after purchasing an additional 1,248,823 shares during the period. Bank of New York Mellon Corp increased its position in shares of AxoGen by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider’s stock valued at $1,165,000 after purchasing an additional 13,798 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in AxoGen by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock valued at $421,000 after buying an additional 3,380 shares during the period. 80.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXGN has been the topic of several recent research reports. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.00.

AxoGen Stock Performance

Shares of NASDAQ AXGN traded up $0.12 during midday trading on Wednesday, hitting $14.56. 18,234 shares of the company’s stock traded hands, compared to its average volume of 396,394. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The stock has a market capitalization of $640.76 million, a price-to-earnings ratio of -45.13 and a beta of 1.06. The firm has a fifty day moving average of $13.70 and a 200 day moving average of $11.03. AxoGen has a 1 year low of $5.55 and a 1 year high of $15.90.

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.