AxoGen, Inc. (NASDAQ:AXGN) Short Interest Update

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,510,000 shares, a drop of 18.4% from the February 28th total of 1,850,000 shares. Based on an average trading volume of 539,900 shares, the short-interest ratio is currently 2.8 days. Approximately 3.7% of the shares of the company are sold short.

AxoGen Price Performance

Shares of AxoGen stock traded down $0.65 during trading on Thursday, reaching $17.04. 581,392 shares of the stock traded hands, compared to its average volume of 424,957. AxoGen has a 52-week low of $5.55 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. The business has a fifty day simple moving average of $18.23 and a two-hundred day simple moving average of $15.94. The company has a market capitalization of $755.62 million, a price-to-earnings ratio of -53.25 and a beta of 1.02.

Insiders Place Their Bets

In other news, insider Erick Wayne Devinney sold 15,111 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, the insider now owns 217,762 shares of the company's stock, valued at $3,810,835. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total value of $100,100.00. Following the transaction, the director now owns 97,899 shares of the company's stock, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.

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Hedge Funds Weigh In On AxoGen

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of AxoGen during the 4th quarter worth approximately $30,000. US Bancorp DE purchased a new stake in AxoGen during the fourth quarter valued at $30,000. State of Wyoming bought a new position in AxoGen during the fourth quarter valued at $31,000. Quest Partners LLC grew its stake in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider's stock worth $29,000 after buying an additional 2,076 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of AxoGen in the 4th quarter worth about $93,000. Hedge funds and other institutional investors own 80.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AXGN shares. Lake Street Capital assumed coverage on shares of AxoGen in a research note on Monday, March 17th. They set a "buy" rating and a $30.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $24.00 price objective on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group increased their target price on AxoGen from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen has a consensus rating of "Buy" and a consensus target price of $22.60.

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.