Axonics, Inc. (NASDAQ:AXNX) Stake Increased by Bardin Hill Management Partners LP

Bardin Hill Management Partners LP grew its position in Axonics, Inc. (NASDAQ:AXNX) by 134.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 247,233 shares of the company’s stock after buying an additional 141,688 shares during the period. Axonics makes up about 8.0% of Bardin Hill Management Partners LP’s investment portfolio, making the stock its 2nd largest holding. Bardin Hill Management Partners LP owned about 0.48% of Axonics worth $17,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cowen AND Company LLC bought a new stake in shares of Axonics during the second quarter valued at approximately $605,000. Bank of New York Mellon Corp increased its holdings in shares of Axonics by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,171 shares of the company’s stock worth $14,668,000 after purchasing an additional 23,460 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Axonics by 13.7% in the second quarter. Rhumbline Advisers now owns 78,401 shares of the company’s stock worth $5,271,000 after purchasing an additional 9,446 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of Axonics by 22.0% during the second quarter. Wolverine Asset Management LLC now owns 42,191 shares of the company’s stock valued at $2,836,000 after purchasing an additional 7,610 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Axonics during the second quarter valued at $2,163,000. Institutional investors own 99.48% of the company’s stock.

Insiders Place Their Bets

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total transaction of $205,523.01. Following the completion of the sale, the chief financial officer now directly owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.85% of the company’s stock.

Axonics Price Performance

Shares of AXNX opened at $70.98 on Monday. The firm has a market capitalization of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82. Axonics, Inc. has a one year low of $55.09 and a one year high of $71.05. The business has a fifty day moving average of $70.28 and a 200 day moving average of $68.84.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.00.

About Axonics

Axonics, Inc, a medical technology company, engages in the development and commercialization of novel products for the treatment of bladder and bowel dysfunction. Its sacral neuromodulation (SNM) systems are used to treat patients with overactive bladder (OAB), including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence (FI) and non-obstructive urinary retention (UR); and rechargeable (R20) and recharge-free (F15) implantable SNM systems that delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of OAB, UR, and FI.