AxoGen, Inc. (NASDAQ:AXGN) Short Interest Down 8.1% in October

AxoGen, Inc. (NASDAQ:AXGN) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,130,000 shares, a decrease of 8.1% from the October 15th total of 1,230,000 shares. Based on an average daily volume of 430,300 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analyst Weigh In

AXGN has been the topic of a number of recent analyst reports. JMP Securities lifted their price objective on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.00.

AxoGen Stock Up 1.4 %

AXGN stock traded up $0.17 during midday trading on Friday, hitting $12.64. The stock had a trading volume of 340,455 shares, compared to its average volume of 440,522. The business has a 50-day moving average of $13.79 and a two-hundred day moving average of $10.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.74 and a quick ratio of 2.47. AxoGen has a 52-week low of $5.43 and a 52-week high of $15.90.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quest Partners LLC increased its stake in shares of AxoGen by 23,066.7% during the third quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 2,076 shares in the last quarter. nVerses Capital LLC purchased a new position in AxoGen during the third quarter valued at $56,000. Koss Olinger Consulting LLC purchased a new position in AxoGen during the second quarter valued at $75,000. Oppenheimer & Co. Inc. purchased a new stake in shares of AxoGen in the third quarter worth $156,000. Finally, Lazard Asset Management LLC increased its holdings in shares of AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares in the last quarter. 80.29% of the stock is currently owned by institutional investors.

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.