Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Decreases By 7.3%

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,010,000 shares, a decrease of 7.3% from the November 30th total of 1,090,000 shares. Based on an average trading volume of 356,700 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.00.

AxoGen Stock Performance

Shares of AxoGen stock traded down $0.29 on Tuesday, hitting $16.20. 135,080 shares of the company’s stock were exchanged, compared to its average volume of 390,467. AxoGen has a 1 year low of $5.55 and a 1 year high of $17.23. The company has a 50-day simple moving average of $14.25 and a 200-day simple moving average of $12.17. 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 $712.93 million, a PE ratio of -50.63 and a beta of 1.06.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXGN. First Light Asset Management LLC grew its stake in AxoGen by 336.6% during the second 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 acquiring an additional 2,578,147 shares in the last quarter. Divisadero Street Capital Management LP grew its position in shares of AxoGen by 587.2% during the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after purchasing an additional 587,024 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after buying an additional 530,775 shares during the period. Parkman Healthcare Partners LLC purchased a new stake in shares of AxoGen in the third quarter valued at $5,789,000. Finally, FMR LLC lifted its holdings in shares of AxoGen by 743.1% in the 3rd quarter. FMR LLC now owns 178,957 shares of the medical equipment provider’s stock worth $2,509,000 after acquiring an additional 157,730 shares during the last quarter. 80.29% of the stock is 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.