Cubist Systematic Strategies LLC Sells 101,445 Shares of AxoGen, Inc. (NASDAQ:AXGN)

Cubist Systematic Strategies LLC lessened its position in shares of AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 70.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,168 shares of the medical equipment provider's stock after selling 101,445 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.10% of AxoGen worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in AxoGen by 9.8% in the 3rd quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider's stock worth $1,084,000 after purchasing an additional 6,767 shares in the last quarter. SG Americas Securities LLC raised its holdings in AxoGen by 34.4% during the fourth quarter. SG Americas Securities LLC now owns 21,763 shares of the medical equipment provider's stock worth $359,000 after purchasing an additional 5,576 shares in the last quarter. R Squared Ltd acquired a new stake in shares of AxoGen during the 4th quarter worth about $30,000. Calamos Advisors LLC purchased a new stake in AxoGen during the 4th quarter worth approximately $523,000. Finally, Legato Capital Management LLC boosted its position in AxoGen by 42.8% during the 4th quarter. Legato Capital Management LLC now owns 34,524 shares of the medical equipment provider's stock worth $569,000 after acquiring an additional 10,344 shares during the period. Institutional investors own 80.29% of the company's stock.

Wall Street Analyst Weigh In

AXGN has been the subject of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $24.00 price target on shares of AxoGen in a report on Wednesday, March 5th. Canaccord Genuity Group decreased their price target on shares of AxoGen from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Lake Street Capital began coverage on shares of AxoGen in a research report on Monday, March 17th. They set a "buy" rating and a $30.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $22.20.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the completion of the sale, the director now owns 97,899 shares in the company, valued at approximately $1,959,937.98. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $17.50, for a total value of $264,442.50. Following the completion of the sale, the insider now owns 217,762 shares in the company, valued at $3,810,835. The trade was a 6.49% decrease in their position. The disclosure for this sale can be found here. 2.78% of the stock is owned by insiders.

AxoGen Trading Up 1.9%

AxoGen stock traded up $0.23 during trading hours on Wednesday, reaching $11.80. 40,356 shares of the company's stock were exchanged, compared to its average volume of 461,845. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. AxoGen, Inc. has a twelve month low of $5.90 and a twelve month high of $21.00. The firm has a market capitalization of $537.19 million, a PE ratio of -36.84 and a beta of 1.19. The firm's 50 day simple moving average is $15.91 and its 200 day simple moving average is $16.20.

AxoGen 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.