AxoGen, Inc. (NASDAQ:AXGN) Short Interest Update

AxoGen, Inc. (NASDAQ:AXGN) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,980,000 shares, an increase of 10.0% from the August 15th total of 1,800,000 shares. Based on an average daily trading volume, of 433,000 shares, the short-interest ratio is currently 4.6 days.

Institutional Investors Weigh In On AxoGen

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. Panagora Asset Management Inc. lifted its stake in shares of AxoGen by 69.8% during the 4th quarter. Panagora Asset Management Inc. now owns 165,461 shares of the medical equipment provider’s stock worth $1,130,000 after acquiring an additional 68,001 shares during the last quarter. Keeley Teton Advisors LLC increased its holdings in AxoGen by 135.3% during the 4th quarter. Keeley Teton Advisors LLC now owns 84,725 shares of the medical equipment provider’s stock worth $579,000 after purchasing an additional 48,725 shares during the period. BNP Paribas Financial Markets increased its holdings in AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after purchasing an additional 1,651 shares during the period. Roubaix Capital LLC purchased a new position in AxoGen during the 1st quarter worth $351,000. Finally, Lazard Asset Management LLC increased its holdings in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 2,671 shares during the period. 80.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AXGN has been the subject of a number of research reports. StockNews.com lowered AxoGen from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. JMP Securities raised their price objective on AxoGen from $17.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 9th. Raymond James assumed coverage on AxoGen in a research note on Monday, July 1st. They issued an “outperform” rating and a $13.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of AxoGen in a research note on Thursday, June 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.80.

AxoGen Trading Up 3.6 %

Shares of AXGN stock traded up $0.50 on Monday, reaching $14.29. 426,258 shares of the company’s stock were exchanged, compared to its average volume of 398,143. AxoGen has a 52 week low of $3.45 and a 52 week high of $14.50. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $624.54 million, a PE ratio of -28.58 and a beta of 1.12. The company’s fifty day simple moving average is $10.68 and its 200 day simple moving average is $8.46.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The firm had revenue of $47.91 million during the quarter, compared to analyst estimates of $43.27 million. As a group, analysts forecast that AxoGen will post -0.33 EPS 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.