AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 8.5% in June

AxoGen, Inc. (NASDAQ:AXGN) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,920,000 shares, an increase of 8.5% from the May 31st total of 1,770,000 shares. Based on an average daily volume of 319,200 shares, the short-interest ratio is currently 6.0 days.

Wall Street Analysts Forecast Growth

AXGN has been the subject of a number of recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 price objective on shares of AxoGen in a research note on Thursday, June 20th. StockNews.com cut shares of AxoGen from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Raymond James assumed coverage on shares of AxoGen in a research note on Monday. They issued an “outperform” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.25.

Hedge Funds Weigh In On AxoGen

Several hedge funds and other institutional investors have recently made changes to their positions in AXGN. Sherbrooke Park Advisers LLC purchased a new stake in AxoGen during the 3rd quarter worth $83,000. SG Americas Securities LLC increased its stake in AxoGen by 45.9% during the 4th quarter. SG Americas Securities LLC now owns 14,823 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 4,666 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in AxoGen by 13.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 92,260 shares of the medical equipment provider’s stock worth $630,000 after buying an additional 11,000 shares during the period. Nisa Investment Advisors LLC increased its stake in AxoGen by 534.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,805 shares of the medical equipment provider’s stock worth $53,000 after buying an additional 6,575 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in AxoGen during the 4th quarter worth $131,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Trading Up 1.9 %

Shares of AXGN opened at $7.66 on Thursday. The company’s fifty day moving average is $6.70 and its two-hundred day moving average is $7.81. AxoGen has a fifty-two week low of $3.45 and a fifty-two week high of $10.83. The company has a current ratio of 3.43, a quick ratio of 2.23 and a debt-to-equity ratio of 0.72.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The business had revenue of $41.38 million for the quarter, compared to analyst estimates of $42.05 million. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. Equities analysts predict that AxoGen will post -0.48 EPS for the current fiscal year.

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.