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

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 decline in short interest during the month of August. As of August 15th, there was short interest totaling 3,050,000 shares, adeclineof25.6% from the July 31st total of 4,100,000 shares. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 2.6 days. Based on an average trading volume of 1,180,000 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Canaccord Genuity Group cut their target price on AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen raised shares of AxoGen from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $26.00.

AxoGen Stock Performance

Shares of NASDAQ AXGN opened at $15.98 on Monday. AxoGen has a 1 year low of $9.22 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.67 and a current ratio of 4.14. The company has a market capitalization of $735.24 million, a PE ratio of -159.78 and a beta of 1.02. The company's fifty day moving average price is $13.58 and its 200 day moving average price is $14.29.

Institutional Trading of AxoGen

Several institutional investors have recently bought and sold shares of AXGN. Balyasny Asset Management L.P. grew its position 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 purchasing an additional 1,250,968 shares during the period. Wasatch Advisors LP increased 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 purchasing an additional 659,149 shares during the last quarter. Armistice Capital LLC increased its stake in shares of AxoGen by 106.5% in the 2nd quarter. Armistice Capital LLC now owns 1,111,319 shares of the medical equipment provider's stock worth $12,058,000 after acquiring an additional 573,041 shares during the last quarter. Invesco Ltd. increased its position in AxoGen by 2,124.5% during the first quarter. Invesco Ltd. now owns 382,429 shares of the medical equipment provider's stock worth $7,075,000 after purchasing an additional 365,237 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of AxoGen by 259.2% during the 2nd quarter. Squarepoint Ops LLC now owns 483,563 shares of the medical equipment provider's stock valued at $5,247,000 after buying an additional 348,950 shares during the period. 80.29% of the stock is owned by institutional investors and hedge funds.

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.

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