Hedge Funds Are Betting On AxoGen, Inc. (AXGN)

Consequently, key money managers were leading the bulls’ herd. Warren Lammert’s Granite Point Capital, initiated the most outsized position in AxoGen, Inc. (NASDAQ:AXGN). According to regulatory filings, the fund had $0.6 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $0.5 million position during the quarter. The other funds with brand new AXGN positions are John Overdeck and David Siegel’s Two Sigma Advisors, Frank Slattery’s Symmetry Peak Management, and Chuck Royce’s Royce & Associates.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as AxoGen, Inc. (NASDAQ:AXGN) but similarly valued. These stocks are Parker Drilling Company (NYSE:PKD), PICO Holdings Inc (NASDAQ:PICO), RigNet Inc (NASDAQ:RNET), and JP Energy Partners LP (NYSE:JPEP). This group of stocks’ market caps match AXGN’s market cap.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $18 million. That figure was $40 million in AXGN’s case. Parker Drilling Company (NYSE:PKD) is the most popular stock in this table. On the other hand JP Energy Partners LP (NYSE:JPEP) is the least popular one with only 3 bullish hedge fund positions. AxoGen, Inc. (NASDAQ:AXGN) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard PKD might be a better candidate to consider taking a long position in.

Disclosure: none.