Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Drops By 8.1%

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

AxoGen Trading Up 1.3 %

AXGN stock opened at $12.80 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen has a 1-year low of $5.55 and a 1-year high of $15.90. The business has a fifty day moving average price of $13.78 and a 200-day moving average price of $10.43.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. JMP Securities increased their price objective on shares of 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, According to data from MarketBeat.com, AxoGen currently has an average rating of “Buy” and an average target price of $15.00.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently bought and sold shares of the business. First Light Asset Management LLC boosted its stake in shares of AxoGen by 336.6% in the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock worth $24,211,000 after buying an additional 2,578,147 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake 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. Divisadero Street Capital Management LP boosted its holdings 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 buying an additional 587,024 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new stake in AxoGen during the third quarter valued at approximately $5,789,000. Finally, Kent Lake Capital LLC purchased a new stake in AxoGen during the first quarter valued at approximately $1,617,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.