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

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) saw a significant increase in short interest during 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 shares of the company are sold short. Based on an average daily volume of 550,900 shares, the days-to-cover ratio is presently 3.3 days.

AxoGen Price Performance

AXGN stock traded up $0.23 during trading on Friday, hitting $16.39. The company had a trading volume of 72,687 shares, compared to its average volume of 427,632. The company has a fifty day moving average price of $17.46 and a two-hundred day moving average price of $16.15. AxoGen has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The company has a market cap of $726.71 million, a P/E ratio of -51.20 and a beta of 1.00. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Lake Street Capital assumed coverage on AxoGen in a research report on Monday, March 17th. They issued a "buy" rating and a $30.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 price target on shares of AxoGen in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group boosted their price target 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen currently has a consensus rating of "Buy" and an average price target of $22.60.

Insider Activity

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

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC lifted its holdings in AxoGen by 10.2% during the 4th quarter. First Light Asset Management LLC now owns 4,506,795 shares of the medical equipment provider's stock valued at $74,272,000 after purchasing an additional 416,499 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider's stock valued at $14,170,000 after acquiring an additional 31,612 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AxoGen by 21.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,001,217 shares of the medical equipment provider's stock worth $18,523,000 after acquiring an additional 174,681 shares in the last quarter. Driehaus Capital Management LLC grew its position in AxoGen by 166.0% during the 4th quarter. Driehaus Capital Management LLC now owns 954,439 shares of the medical equipment provider's stock worth $15,729,000 after acquiring an additional 595,579 shares during the last quarter. Finally, State Street Corp increased its holdings in AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider's stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company's stock.

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.