Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Rises By 20.4%

AxoGen, Inc. (NASDAQ:AXGN) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,240,000 shares, a growth of 20.4% from the December 31st total of 1,030,000 shares. Based on an average trading volume of 426,600 shares, the days-to-cover ratio is currently 2.9 days.

AxoGen Trading Down 1.3 %

AXGN stock traded down $0.24 during mid-day trading on Monday, hitting $17.98. 159,592 shares of the company were exchanged, compared to its average volume of 544,574. The business has a fifty day simple moving average of $16.16 and a 200-day simple moving average of $13.82. The firm has a market capitalization of $791.08 million, a P/E ratio of -56.23 and a beta of 1.00. AxoGen has a 12-month low of $5.55 and a 12-month high of $19.06. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Canaccord Genuity Group raised their price target on shares of AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC lifted its stake in AxoGen by 23,066.7% during the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares in the last quarter. R Squared Ltd purchased a new position in shares of AxoGen in the fourth quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in shares of AxoGen in the third quarter valued at approximately $56,000. Oppenheimer & Co. Inc. purchased a new stake in AxoGen during the 3rd quarter worth approximately $156,000. Finally, Quantbot Technologies LP acquired a new stake in AxoGen during the 3rd quarter worth approximately $165,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.