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

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was the recipient of a significant decline in short interest in the month of 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 daily volume of 430,300 shares, the days-to-cover ratio is currently 2.6 days.

Hedge Funds Weigh In On AxoGen

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC increased its position in shares of 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 acquiring an additional 2,076 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of AxoGen in the 3rd quarter valued at approximately $56,000. Koss Olinger Consulting LLC bought a new position in shares of AxoGen in the second quarter valued at $75,000. Lazard Asset Management LLC increased its holdings in AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider's stock worth $93,000 after buying an additional 2,671 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in AxoGen during the second quarter worth $125,000. 80.29% of the stock is owned by institutional investors.

AxoGen Stock Up 1.4 %

AXGN traded up $0.17 during trading on Friday, hitting $12.64. The company had a trading volume of 340,455 shares, compared to its average volume of 440,522. The company has a market capitalization of $556.26 million, a PE ratio of -39.50 and a beta of 1.13. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen has a one year low of $5.43 and a one year high of $15.90. The firm's 50-day moving average price is $13.79 and its 200 day moving average price is $10.35.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. JMP Securities boosted their target price on AxoGen from $17.00 to $20.00 and gave the company a "market outperform" rating in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen presently has a consensus rating of "Buy" and an average price target of $15.00.

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.