Cubist Systematic Strategies LLC Has $652,000 Stock Holdings in AxoGen, Inc. (NASDAQ:AXGN)

Cubist Systematic Strategies LLC cut its holdings in AxoGen, Inc. (NASDAQ:AXGN) by 24.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 90,092 shares of the medical equipment provider’s stock after selling 29,134 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.21% of AxoGen worth $652,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock valued at $9,490,000 after purchasing an additional 1,248,823 shares during the period. Divisadero Street Capital Management LP grew its position in shares of AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after purchasing an additional 587,024 shares during the period. Rice Hall James & Associates LLC grew its position in shares of AxoGen by 26.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider’s stock valued at $1,407,000 after purchasing an additional 41,095 shares during the period. Lazard Asset Management LLC grew its position in shares of AxoGen by 30.1% in the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after purchasing an additional 2,671 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after purchasing an additional 2,204 shares during the period. 80.29% of the stock is currently owned by institutional investors and hedge funds.

AxoGen Stock Up 8.2 %

AXGN opened at $14.71 on Friday. AxoGen, Inc. has a 1-year low of $3.45 and a 1-year high of $15.08. The stock’s fifty day simple moving average is $12.82 and its 200 day simple moving average is $9.24. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The stock has a market cap of $642.90 million, a PE ratio of -29.42 and a beta of 1.13.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The firm had revenue of $47.91 million for the quarter, compared to analysts’ expectations of $43.27 million. As a group, research analysts expect that AxoGen, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXGN has been the subject of a number of recent research reports. StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. JMP Securities upped their price target on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. Finally, Raymond James initiated coverage on AxoGen in a research report on Monday, July 1st. They set an “outperform” rating and a $13.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.80.

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.