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

AxoGen, Inc. (NASDAQ:AXGN) was the target of a large 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 daily volume of 356,700 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On AxoGen

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in AxoGen by 2,912.3% during the 3rd 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 in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of AxoGen during the third quarter worth $207,000. Franklin Resources Inc. raised its stake in shares of AxoGen by 9.8% in the third quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock valued at $1,084,000 after acquiring an additional 6,767 shares in the last quarter. Barclays PLC boosted its holdings in AxoGen by 119.3% in the third quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock valued at $1,010,000 after purchasing an additional 39,182 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

AxoGen Trading Down 0.4 %

Shares of AXGN traded down $0.07 during midday trading on Tuesday, hitting $16.42. 216,165 shares of the stock were exchanged, compared to its average volume of 390,719. 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 firm has a market cap of $722.61 million, a P/E ratio of -51.31 and a beta of 1.06. AxoGen has a 52-week low of $5.55 and a 52-week high of $17.23. The stock has a fifty day simple moving average of $14.25 and a 200 day simple moving average of $12.17.

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.