AxoGen, Inc. (NASDAQ:AXGN) Short Interest Up 50.8% in January

AxoGen, Inc. (NASDAQ:AXGN) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,870,000 shares, an increase of 50.8% from the January 15th total of 1,240,000 shares. Based on an average trading volume of 416,600 shares, the days-to-cover ratio is presently 4.5 days.

AxoGen Price Performance

Shares of AXGN opened at $17.79 on Thursday. The business’s 50 day moving average is $16.79 and its two-hundred day moving average is $14.28. AxoGen has a 52-week low of $5.55 and a 52-week high of $19.18. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in shares of AxoGen in the 4th quarter valued at approximately $30,000. US Bancorp DE acquired a new position in shares of AxoGen in the 4th quarter valued at approximately $30,000. Quest Partners LLC raised its position in shares of AxoGen by 23,066.7% in the 3rd 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 acquired a new stake in shares of AxoGen during the 3rd quarter valued at approximately $56,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of AxoGen during the 4th quarter valued at approximately $93,000. 80.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their price target on AxoGen from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, February 3rd.

AxoGen Company Profile

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.