Cubist Systematic Strategies LLC Raises Stock Position in Inogen, Inc. (NASDAQ:INGN)

Cubist Systematic Strategies LLC boosted its position in shares of Inogen, Inc. (NASDAQ:INGN) by 109.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,242 shares of the medical technology company’s stock after acquiring an additional 64,388 shares during the period. Cubist Systematic Strategies LLC owned 0.52% of Inogen worth $1,130,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC purchased a new position in Inogen during the fourth quarter valued at approximately $43,000. Meeder Asset Management Inc. purchased a new position in Inogen during the fourth quarter valued at approximately $56,000. Integrated Quantitative Investments LLC purchased a new position in Inogen during the fourth quarter valued at approximately $92,000. Ieq Capital LLC purchased a new position in Inogen during the fourth quarter valued at approximately $94,000. Finally, Intech Investment Management LLC purchased a new position in Inogen during the fourth quarter valued at approximately $94,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INGN. Needham & Company LLC reaffirmed a “hold” rating on shares of Inogen in a research note on Wednesday, April 9th. Stifel Nicolaus cut their price target on shares of Inogen from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. Finally, StockNews.com cut shares of Inogen from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th.

Inogen Price Performance

INGN stock opened at $6.14 on Wednesday. Inogen, Inc. has a one year low of $5.75 and a one year high of $13.33. The stock has a market cap of $165.09 million, a PE ratio of -2.73 and a beta of 1.63. The firm has a 50 day simple moving average of $7.13 and a two-hundred day simple moving average of $8.88.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Wednesday, May 7th. The medical technology company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.27. Inogen had a negative net margin of 15.89% and a negative return on equity of 27.38%. The business had revenue of $82.28 million during the quarter, compared to analysts’ expectations of $79.57 million. On average, research analysts expect that Inogen, Inc. will post -1.73 EPS for the current fiscal year.

About Inogen

Inogen, Inc, a medical technology company, develops, manufactures, and markets portable oxygen concentrators to patients, physicians and other clinicians, and third-party payors in the United States and internationally. Its oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.