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

Key Points

• AxoGen, Inc. experienced a significant 25.6% decline in short interest in August, dropping from 4,100,000 shares to 3,050,000 shares.
• Analysts have mixed views, with Canaccord Genuity reducing their target price from $26.00 to $24.00, while Wall Street Zen upgraded their rating from "hold" to "buy."
• AxoGen's stock performance shows a 1-year range from $9.22 to $21.00, with a current market capitalization of $735.24 million and a debt-to-equity ratio of 0.59.

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) saw a significant drop in short interest in August. As of August 15th, there was short interest totaling 3,050,000 shares, a drop of 25.6% from the July 31st total of 4,100,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 2.6 days.

AxoGen Stock Performance

Shares of AxoGen stock traded down $0.39 during trading on Friday, reaching $16.41. The company's stock had a trading volume of 773,135 shares, compared to its average volume of 1,116,882. The company has a 50-day moving average price of $14.12 and a two-hundred day moving average price of $14.27. The firm has a market cap of $755.02 million, a PE ratio of -164.08 and a beta of 1.03. AxoGen has a fifty-two week low of $9.22 and a fifty-two week high of $21.00. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of AxoGen in the 4th quarter valued at $31,000. Fifth Third Bancorp acquired a new position in shares of AxoGen in the 1st quarter valued at $92,000. Tower Research Capital LLC TRC increased its holdings in shares of AxoGen by 189.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider's stock valued at $55,000 after acquiring an additional 3,327 shares during the period. GAMMA Investing LLC increased its holdings in shares of AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock valued at $105,000 after acquiring an additional 5,555 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of AxoGen by 882.2% in the 2nd quarter. AlphaQuest LLC now owns 6,276 shares of the medical equipment provider's stock valued at $68,000 after acquiring an additional 5,637 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, AxoGen has a consensus rating of "Buy" and an average target price 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.