AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 8.5% in June

AxoGen, Inc. (NASDAQ:AXGN) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,920,000 shares, a growth of 8.5% from the May 31st total of 1,770,000 shares. Based on an average daily trading volume, of 319,200 shares, the days-to-cover ratio is presently 6.0 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James assumed coverage on shares of AxoGen in a report on Monday. They set an “outperform” rating and a $13.00 price target for the company. StockNews.com lowered shares of AxoGen from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.25.

Institutional Trading of AxoGen

Hedge funds and other institutional investors have recently modified their holdings of the business. Silvercrest Asset Management Group LLC grew its position in AxoGen by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider’s stock valued at $6,381,000 after purchasing an additional 34,399 shares during the last quarter. First Light Asset Management LLC grew its position in AxoGen by 177.0% during the 1st quarter. First Light Asset Management LLC now owns 765,886 shares of the medical equipment provider’s stock valued at $6,181,000 after purchasing an additional 489,397 shares during the last quarter. Kent Lake Capital LLC purchased a new stake in AxoGen during the 1st quarter valued at about $1,617,000. Panagora Asset Management Inc. grew its position in AxoGen by 69.8% during the 4th quarter. Panagora Asset Management Inc. now owns 165,461 shares of the medical equipment provider’s stock valued at $1,130,000 after purchasing an additional 68,001 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in AxoGen during the 1st quarter valued at about $1,236,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Stock Down 2.7 %

Shares of NASDAQ:AXGN traded down $0.21 during midday trading on Tuesday, reaching $7.50. The company’s stock had a trading volume of 108,910 shares, compared to its average volume of 381,856. The firm has a 50 day moving average of $6.67 and a 200-day moving average of $7.81. The firm has a market capitalization of $327.83 million, a P/E ratio of -14.56 and a beta of 1.11. The company has a quick ratio of 2.23, a current ratio of 3.43 and a debt-to-equity ratio of 0.72. AxoGen has a 12-month low of $3.45 and a 12-month high of $10.83.

AxoGen (NASDAQ:AXGN) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $41.38 million for the quarter, compared to the consensus estimate of $42.05 million. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. On average, research analysts anticipate that AxoGen will post -0.48 earnings per share for the current year.

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.