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

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,020,000 shares, an increase of 21.0% from the April 30th total of 1,670,000 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 621,900 shares, the days-to-cover ratio is currently 3.2 days.

AxoGen Trading Down 0.9%

Shares of AxoGen stock traded down $0.10 during trading hours on Thursday, hitting $10.80. The company's stock had a trading volume of 505,686 shares, compared to its average volume of 470,493. AxoGen has a twelve month low of $6.59 and a twelve month high of $21.00. The firm has a fifty day moving average of $14.19 and a 200-day moving average of $15.98. The stock has a market cap of $491.88 million, a price-to-earnings ratio of -33.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Insider Transactions at AxoGen

In related news, Director Joseph A. Tyndall sold 20,062 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $11.20, for a total transaction of $224,694.40. Following the completion of the sale, the director now directly owns 15,345 shares in the company, valued at approximately $171,864. The trade was a 56.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now owns 217,762 shares of the company's stock, valued at $3,810,835. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.78% of the company's stock.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in AxoGen in the 4th quarter valued at about $30,000. US Bancorp DE acquired a new stake in AxoGen in the 4th quarter valued at about $30,000. State of Wyoming acquired a new stake in AxoGen in the 4th quarter valued at about $31,000. Fifth Third Bancorp acquired a new stake in AxoGen in the 1st quarter valued at about $92,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in AxoGen in the 4th quarter valued at about $93,000. Institutional investors and hedge funds own 80.29% of the company's stock.

Analysts Set New Price Targets

AXGN has been the subject of several research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $24.00 price target on shares of AxoGen in a research report on Wednesday, March 5th. Lake Street Capital initiated coverage on AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 price target for the company. Finally, Canaccord Genuity Group dropped their price target on AxoGen from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $22.20.

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.