AxoGen, Inc. (NASDAQ:AXGN) Sees Large Decrease in Short Interest

AxoGen, Inc. (NASDAQ:AXGN) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,130,000 shares, a drop of 8.1% from the October 15th total of 1,230,000 shares. Based on an average trading volume of 430,300 shares, the short-interest ratio is presently 2.6 days.

AxoGen Trading Up 1.4 %

AXGN traded up $0.17 during trading on Friday, hitting $12.64. The company’s stock had a trading volume of 340,455 shares, compared to its average volume of 440,522. AxoGen has a one year low of $5.43 and a one year high of $15.90. The business’s 50 day simple moving average is $13.79 and its 200-day simple moving average is $10.35. 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 Upgrades and Downgrades

Several research firms recently issued reports on AXGN. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. JMP Securities increased their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.00.

Hedge Funds Weigh In On AxoGen

Several large investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC lifted its stake in shares of AxoGen by 336.6% during the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after buying an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after acquiring an additional 1,248,823 shares in the last quarter. Divisadero Street Capital Management LP boosted its stake in shares of AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after acquiring an additional 587,024 shares during the period. Parkman Healthcare Partners LLC purchased a new stake in shares of AxoGen during the third quarter worth about $5,789,000. Finally, Kent Lake Capital LLC bought a new stake in AxoGen during the 1st quarter valued at approximately $1,617,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.