Cubist Systematic Strategies LLC Decreases Stake in AxoGen, Inc. (NASDAQ:AXGN)

Cubist Systematic Strategies LLC reduced its stake in AxoGen, Inc. (NASDAQ:AXGN) by 70.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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’s holdings in AxoGen were worth $695,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AXGN. Sei Investments Co. bought a new stake in shares of AxoGen in the 4th quarter worth approximately $188,000. New York State Common Retirement Fund grew its position in shares of AxoGen by 63.7% in the 4th quarter. New York State Common Retirement Fund now owns 69,629 shares of the medical equipment provider’s stock worth $1,147,000 after buying an additional 27,101 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of AxoGen in the 4th quarter worth approximately $363,000. Dimensional Fund Advisors LP grew its position in shares of AxoGen by 13.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 772,752 shares of the medical equipment provider’s stock worth $12,735,000 after buying an additional 91,984 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of AxoGen by 8.3% in the 4th quarter. Principal Financial Group Inc. now owns 16,000 shares of the medical equipment provider’s stock worth $264,000 after buying an additional 1,228 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

AxoGen Trading Down 0.3%

NASDAQ AXGN opened at $11.78 on Friday. 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 $5.74 and a twelve month high of $21.00. The firm has a market capitalization of $536.40 million, a PE ratio of -36.81 and a beta of 1.19. The stock’s 50 day moving average is $16.24 and its 200 day moving average is $16.24.

Insider Activity at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the sale, the insider now directly owns 217,762 shares of the company’s stock, valued at approximately $3,810,835. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy Mcbride Wendell sold 5,000 shares of the business’s stock in a transaction 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 directly owns 97,899 shares in the company, valued at $1,959,937.98. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AXGN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Lake Street Capital initiated coverage on AxoGen in a research report on Monday, March 17th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Canaccord Genuity Group cut their price objective on AxoGen from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.20.

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.