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

AxoGen, Inc. (NASDAQ:AXGN) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,410,000 shares, a growth of 21.6% from the August 15th total of 1,160,000 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 275,400 shares, the short-interest ratio is currently 5.1 days.

Analysts Set New Price Targets

A number of research firms have commented on AXGN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $16.00 price objective on shares of AxoGen in a report on Tuesday, August 22nd. StockNews.com downgraded AxoGen from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.50.

Insider Buying and Selling at AxoGen

In other AxoGen news, Director William P. Mr. Burke bought 10,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $6.56 per share, for a total transaction of $65,600.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $65,600. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 30,000 shares of company stock valued at $188,900. Corporate insiders own 7.21% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Several institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank boosted its stake in shares of AxoGen by 9.6% during the 1st quarter. Swiss National Bank now owns 93,300 shares of the medical equipment provider’s stock worth $741,000 after purchasing an additional 8,200 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in AxoGen by 22.5% in the first quarter. JPMorgan Chase & Co. now owns 18,479 shares of the medical equipment provider’s stock valued at $146,000 after buying an additional 3,397 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in AxoGen by 48.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,823 shares of the medical equipment provider’s stock valued at $229,000 after buying an additional 9,400 shares in the last quarter. MetLife Investment Management LLC lifted its position in AxoGen by 55.4% during the first quarter. MetLife Investment Management LLC now owns 23,064 shares of the medical equipment provider’s stock valued at $183,000 after buying an additional 8,224 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in AxoGen by 2.1% during the first quarter. Vanguard Group Inc. now owns 1,922,965 shares of the medical equipment provider’s stock worth $15,269,000 after buying an additional 38,968 shares during the period. 83.77% of the stock is currently owned by hedge funds and other institutional investors.

AxoGen Stock Down 1.6 %

AXGN opened at $5.45 on Friday. The business’s 50-day simple moving average is $7.17 and its 200-day simple moving average is $8.41. The stock has a market capitalization of $234.24 million, a P/E ratio of -9.73 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.71 and a current ratio of 3.60. AxoGen has a one year low of $5.30 and a one year high of $13.66.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Monday, August 7th. The medical equipment provider reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.07. AxoGen had a negative return on equity of 19.48% and a negative net margin of 15.86%. The company had revenue of $38.16 million for the quarter, compared to the consensus estimate of $39.40 million. Analysts anticipate that AxoGen will post -0.63 EPS for the current year.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and markets 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; and 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.