Cubist Systematic Strategies LLC Grows Stock Position in AxoGen, Inc. $AXGN

Key Points

• Cubist Systematic Strategies LLC increased its stake in AxoGen, Inc. by 166.6%, owning 112,436 shares valued at approximately $2.08 million.
• A number of hedge funds have also raised their positions in AxoGen, with a strong institutional ownership of 80.29% of the stock.
• AxoGen's stock has been rated as a "buy" by multiple analysts, with the average target price set at $26.00.

Cubist Systematic Strategies LLC boosted its position in AxoGen, Inc. (NASDAQ:AXGN - Free Report) by 166.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,436 shares of the medical equipment provider's stock after buying an additional 70,268 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.25% of AxoGen worth $2,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXGN. State of Wyoming purchased a new position in AxoGen in the 4th quarter valued at $31,000. Fifth Third Bancorp purchased a new position in AxoGen in the 1st quarter valued at $92,000. GAMMA Investing LLC grew its position in AxoGen by 3,884.6% in the 1st quarter. GAMMA Investing LLC now owns 5,698 shares of the medical equipment provider's stock valued at $105,000 after buying an additional 5,555 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in AxoGen in the 1st quarter valued at $146,000. Finally, KLP Kapitalforvaltning AS purchased a new position in AxoGen in the 1st quarter valued at $150,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $26.00.

AxoGen Price Performance

Shares of NASDAQ AXGN traded down $0.39 during trading on Friday, hitting $16.41. 773,135 shares of the company were exchanged, compared to its average volume of 1,116,882. The company has a market cap of $755.02 million, a price-to-earnings ratio of -164.08 and a beta of 1.03. AxoGen, Inc. has a 1 year low of $9.22 and a 1 year high of $21.00. The firm's fifty day moving average price is $14.12 and its 200 day moving average price is $14.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67.

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.