AxoGen, Inc. (NASDAQ:AXGN) Short Interest Update

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 1,630,000 shares, a decline of 17.7% from the August 31st total of 1,980,000 shares. Based on an average trading volume of 446,700 shares, the short-interest ratio is currently 3.6 days.

AxoGen Price Performance

AxoGen stock traded up $0.19 during midday trading on Monday, hitting $13.98. The company’s stock had a trading volume of 114,476 shares, compared to its average volume of 401,449. AxoGen has a 12 month low of $3.45 and a 12 month high of $15.08. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $611.00 million, a PE ratio of -27.58 and a beta of 1.12. The stock’s 50-day moving average price is $11.83 and its 200-day moving average price is $8.81.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million during the quarter, compared to analysts’ expectations of $43.27 million. Analysts anticipate that AxoGen will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC acquired a new stake in shares of AxoGen in the second quarter worth $75,000. Lazard Asset Management LLC grew its position in 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 purchasing an additional 2,671 shares in the last quarter. Acadian Asset Management LLC acquired a new position in AxoGen in the 2nd quarter valued at approximately $125,000. BNP Paribas Financial Markets raised its holdings in shares of AxoGen by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in AxoGen by 8.0% in the first 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 in the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JMP Securities increased their price target on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of AxoGen in a research report on Thursday, June 20th. Raymond James assumed coverage on shares of AxoGen in a research note on Monday, July 1st. They set an “outperform” rating and a $13.00 target price on the stock. Finally, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.80.

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.