AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 21.9% in March

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,840,000 shares, an increase of 21.9% from the March 15th total of 1,510,000 shares. Currently, 4.5% of the company's shares are sold short. Based on an average daily volume of 550,900 shares, the short-interest ratio is presently 3.3 days.

AxoGen Price Performance

NASDAQ AXGN opened at $15.57 on Friday. The company has a market cap of $690.44 million, a PE ratio of -48.66 and a beta of 1.00. The firm's 50 day moving average price is $17.65 and its 200-day moving average price is $16.11. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen has a 52-week low of $5.55 and a 52-week high of $21.00.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at AxoGen

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of AxoGen stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $20.02, for a total transaction of $100,100.00. Following the completion of the transaction, the director now directly owns 97,899 shares of the company's stock, valued at $1,959,937.98. The trade was a 4.86 % 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, insider Erick Wayne Devinney sold 15,111 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total transaction of $264,442.50. Following the completion of the sale, the insider now directly owns 217,762 shares in the company, valued at approximately $3,810,835. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXGN. R Squared Ltd bought a new stake in AxoGen during the fourth quarter valued at about $30,000. US Bancorp DE purchased a new position in shares of AxoGen in the 4th quarter worth approximately $30,000. State of Wyoming bought a new position in shares of AxoGen during the 4th quarter worth approximately $31,000. Fifth Third Bancorp purchased a new stake in AxoGen during the first quarter valued at approximately $92,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in AxoGen in the fourth quarter valued at approximately $93,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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