AxoGen, Inc. (NASDAQ:AXGN) Sees Significant Increase in Short Interest

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,870,000 shares, an increase of 50.8% from the January 15th total of 1,240,000 shares. Based on an average trading volume of 416,600 shares, the days-to-cover ratio is presently 4.5 days.

AxoGen Price Performance

Shares of AXGN stock traded down $0.01 on Friday, hitting $18.13. 318,705 shares of the company’s stock were exchanged, compared to its average volume of 489,302. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen has a 12 month low of $5.55 and a 12 month high of $19.18. The stock has a market cap of $797.90 million, a P/E ratio of -56.66 and a beta of 1.00. The company has a 50 day moving average of $16.92 and a 200 day moving average of $14.37.

Institutional Trading of AxoGen

Several institutional investors and hedge funds have recently modified their holdings of AXGN. Quest Partners LLC raised its position in AxoGen by 23,066.7% in the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares during the last quarter. R Squared Ltd bought a new position in AxoGen in the fourth quarter valued at about $30,000. US Bancorp DE bought a new position in AxoGen in the fourth quarter valued at about $30,000. nVerses Capital LLC bought a new position in AxoGen in the third quarter valued at about $56,000. Finally, Harvest Fund Management Co. Ltd bought a new position in AxoGen in the fourth quarter valued at about $93,000. 80.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their target price on AxoGen from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, February 3rd.

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.