Readystate Asset Management LP Invests $1.72 Million in Inogen, Inc $INGN

Readystate Asset Management LP bought a new position in shares of Inogen, Inc (NASDAQ:INGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 266,334 shares of the medical technology company’s stock, valued at approximately $1,718,000. Readystate Asset Management LP owned approximately 1.00% of Inogen as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Inogen by 30.1% during the first quarter. AQR Capital Management LLC now owns 564,032 shares of the medical technology company’s stock worth $4,022,000 after buying an additional 130,381 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Inogen during the 1st quarter worth $85,000. Goldman Sachs Group Inc. increased its holdings in Inogen by 16.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 284,180 shares of the medical technology company’s stock valued at $2,026,000 after purchasing an additional 41,002 shares in the last quarter. Jane Street Group LLC acquired a new stake in Inogen in the 1st quarter valued at $463,000. Finally, Geode Capital Management LLC raised its position in Inogen by 7.9% in the second quarter. Geode Capital Management LLC now owns 615,279 shares of the medical technology company’s stock valued at $4,326,000 after purchasing an additional 44,860 shares during the period. Hedge funds and other institutional investors own 89.94% of the company’s stock.

Insider Activity

In related news, EVP Jennifer Yi Boyer sold 10,938 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.60, for a total value of $72,190.80. Following the transaction, the executive vice president owned 5,039 shares in the company, valued at approximately $33,257.40. The trade was a 68.46% 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. Insiders own 2.50% of the company’s stock.

Inogen Stock Performance

NASDAQ INGN opened at $5.42 on Tuesday. The stock has a market cap of $143.85 million, a P/E ratio of -6.02 and a beta of 1.57. The company’s fifty day simple moving average is $6.11 and its 200-day simple moving average is $6.34. Inogen, Inc has a 52 week low of $5.29 and a 52 week high of $9.13.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Thursday, August 6th. The medical technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Inogen had a negative net margin of 6.94% and a negative return on equity of 13.17%. The firm had revenue of $95.08 million for the quarter, compared to the consensus estimate of $95.23 million.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Inogen in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

About Inogen

Inogen, Inc (NASDAQ: INGN) is a medical device company specializing in the development, manufacture and marketing of innovative oxygen therapy solutions. The company’s core focus is on portable oxygen concentrators (POCs) designed to support patients with chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD). Inogen’s offerings aim to provide users with mobility and independence by reducing reliance on traditional compressed-gas cylinders and enabling oxygen therapy on the go.

Inogen’s flagship product line, including the Inogen One family of portable oxygen concentrators, leverages proprietary flow technology to deliver continuous and pulse-dose oxygen.