Short Interest in AxoGen, Inc. (NASDAQ:AXGN) Increases By 20.4%

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,240,000 shares, a growth of 20.4% from the December 31st total of 1,030,000 shares. Based on an average daily volume of 426,600 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of AxoGen

Several institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of AxoGen by 8.3% during the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider's stock worth $264,000 after buying an additional 1,228 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in shares of AxoGen by 9.3% during the 3rd quarter. Sentry Investment Management LLC now owns 17,368 shares of the medical equipment provider's stock worth $243,000 after buying an additional 1,483 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of AxoGen by 2.7% during the 4th quarter. Rhumbline Advisers now owns 58,232 shares of the medical equipment provider's stock worth $960,000 after buying an additional 1,521 shares in the last quarter. R Squared Ltd bought a new position in shares of AxoGen during the 4th quarter worth approximately $30,000. Finally, US Bancorp DE bought a new position in shares of AxoGen during the 4th quarter worth approximately $30,000. 80.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXGN shares. Canaccord Genuity Group raised their target price on shares of AxoGen from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Monday. StockNews.com raised shares of AxoGen from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th.

AxoGen Trading Up 4.3 %

AXGN stock traded up $0.79 during trading on Wednesday, hitting $18.87. The company had a trading volume of 254,961 shares, compared to its average volume of 533,673. The business has a 50-day moving average of $16.34 and a 200-day moving average of $13.95. AxoGen has a one year low of $5.55 and a one year high of $19.06. The stock has a market cap of $830.29 million, a PE ratio of -58.67 and a beta of 1.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

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.