Short Interest in AxoGen, Inc (NASDAQ:AXGN) Increases By 17.2%

AxoGen, Inc (NASDAQ:AXGN) was the recipient of a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 1,770,000 shares, a growth of 17.2% from the November 14th total of 1,510,000 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average daily volume of 387,400 shares, the short-interest ratio is presently 4.6 days.

Shares of AXGN traded down $0.08 on Friday, reaching $16.90. The company’s stock had a trading volume of 236,868 shares, compared to its average volume of 269,957. The company has a current ratio of 8.20, a quick ratio of 7.38 and a debt-to-equity ratio of 0.01. AxoGen has a twelve month low of $10.91 and a twelve month high of $29.59. The stock has a market capitalization of $660.31 million, a PE ratio of -31.30 and a beta of 0.28. The firm has a fifty day moving average of $15.27 and a 200-day moving average of $16.37.

AxoGen (NASDAQ:AXGN) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.04. AxoGen had a negative net margin of 26.79% and a negative return on equity of 17.82%. The company had revenue of $28.56 million for the quarter, compared to analyst estimates of $28.10 million. As a group, equities analysts anticipate that AxoGen will post -0.69 EPS for the current fiscal year.

Separately, BidaskClub upgraded shares of AxoGen from a “strong sell” rating to a “sell” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. AxoGen has an average rating of “Buy” and a consensus price target of $25.00.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in shares of AxoGen by 9,583.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,002 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 2,971 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of AxoGen by 86.3% in the 2nd quarter. Advisor Group Inc. now owns 2,548 shares of the medical equipment provider’s stock worth $51,000 after acquiring an additional 1,180 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in shares of AxoGen in the 2nd quarter worth about $59,000. Synovus Financial Corp acquired a new stake in shares of AxoGen in the 3rd quarter worth about $66,000. Finally, Aperio Group LLC acquired a new stake in shares of AxoGen in the 2nd quarter worth about $77,000. Institutional investors own 83.58% of the company’s stock.

About AxoGen

AxoGen, Inc develops and markets surgical solutions for peripheral nerve injuries. The company's surgical solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 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.

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