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

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 1,210,000 shares, a decrease of 25.8% from the September 15th total of 1,630,000 shares. Based on an average daily volume of 439,100 shares, the short-interest ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AXGN. StockNews.com upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a report on Friday, October 4th. JMP Securities increased their price objective on shares of AxoGen from $17.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, August 9th. Canaccord Genuity Group restated a "buy" rating and issued a $15.00 price objective on shares of AxoGen in a report on Thursday, June 20th. Finally, Raymond James began coverage on shares of AxoGen in a report on Monday, July 1st. They issued an "outperform" rating and a $13.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen currently has an average rating of "Buy" and a consensus target price of $13.80.

Institutional Investors Weigh In On AxoGen

Large investors have recently made changes to their positions in the stock. First Light Asset Management LLC boosted its holdings in AxoGen by 336.6% during the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider's stock worth $24,211,000 after purchasing an additional 2,578,147 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in AxoGen by 2,014.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider's stock valued at $9,490,000 after acquiring an additional 1,248,823 shares during the last quarter. Divisadero Street Capital Management LP lifted its stake in AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider's stock valued at $4,974,000 after purchasing an additional 587,024 shares during the last quarter. Kent Lake Capital LLC bought a new position in AxoGen during the first quarter worth about $1,617,000. Finally, Roubaix Capital LLC bought a new stake in AxoGen in the first quarter valued at approximately $351,000. Institutional investors own 80.29% of the company's stock.

AxoGen Stock Up 8.2 %

Shares of AXGN stock traded up $1.11 during trading hours on Friday, hitting $14.71. 1,024,043 shares of the company were exchanged, compared to its average volume of 402,098. The business has a 50 day moving average of $12.82 and a two-hundred day moving average of $9.24. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. AxoGen has a 52 week low of $3.45 and a 52 week high of $15.08. The company has a market capitalization of $642.90 million, a PE ratio of -29.42 and a beta of 1.13.

AxoGen (NASDAQ:AXGN - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The company had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. Analysts anticipate that AxoGen will post -0.33 earnings per share for the current fiscal year.

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.