AxoGen, Inc. (NASDAQ:AXGN) Sees Large Increase in Short Interest

Key Points

• AxoGen, Inc. (NASDAQ:AXGN) experienced a 32.7% increase in short interest, reaching a total of 4,100,000 shares shorted by July 31st.
• The company's stock has been trading at approximately $15.36, with a market cap of $706.71 million, and the stock rating from analysts averages a Buy with a price target of $26.00.
• Recent insider activity includes Director Joseph A. Tyndall selling 20,062 shares, marking a significant decrease in his ownership to 2.78% of the total stock.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 4,100,000 shares, anincreaseof32.7% from the July 15th total of 3,090,000 shares. Approximately9.2% of the company's stock are sold short. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 3.7 days. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately9.2% of the company's stock are sold short.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC raised its stake in AxoGen by 1.2% during the 2nd quarter. First Light Asset Management LLC now owns 4,529,243 shares of the medical equipment provider's stock worth $49,142,000 after acquiring an additional 55,028 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AxoGen by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider's stock valued at $46,964,000 after acquiring an additional 112,679 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of AxoGen by 183.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider's stock valued at $20,953,000 after acquiring an additional 1,250,968 shares in the last quarter. Soleus Capital Management L.P. boosted its holdings in shares of AxoGen by 0.9% in the second quarter. Soleus Capital Management L.P. now owns 1,459,395 shares of the medical equipment provider's stock valued at $15,834,000 after acquiring an additional 13,278 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of AxoGen by 85.1% in the second quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider's stock valued at $15,557,000 after acquiring an additional 659,149 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Stock Down 11.4%

Shares of AxoGen stock traded down $1.8550 during trading on Monday, hitting $14.4050. 1,552,019 shares of the stock were exchanged, compared to its average volume of 802,833. The stock has a market cap of $662.82 million, a price-to-earnings ratio of -144.41 and a beta of 1.00. The firm's 50-day moving average price is $12.38 and its 200 day moving average price is $14.44. AxoGen has a 12-month low of $9.22 and a 12-month high of $21.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AXGN shares. Wall Street Zen upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Canaccord Genuity Group reduced their target price on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, AxoGen has an average rating of "Buy" and a consensus price target of $26.00.

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.