Axonics, Inc. (NASDAQ:AXNX) Receives Consensus Rating of “Hold” from Brokerages

Axonics, Inc. (NASDAQ:AXNX) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $71.00.

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Friday, November 8th.

Insider Transactions at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of the business’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 value of $205,523.01. Following the completion of the transaction, the chief financial officer now owns 40,362 shares of the company’s stock, valued at $2,801,526.42. The trade was a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXNX. Slotnik Capital LLC lifted its position in shares of Axonics by 15.4% during the third quarter. Slotnik Capital LLC now owns 115,186 shares of the company’s stock valued at $8,017,000 after buying an additional 15,402 shares during the last quarter. Westchester Capital Management LLC lifted its position in Axonics by 7.3% during the third quarter. Westchester Capital Management LLC now owns 1,450,381 shares of the company’s stock valued at $100,947,000 after acquiring an additional 98,171 shares during the last quarter. Twin Securities Inc. boosted its stake in Axonics by 77.8% in the third quarter. Twin Securities Inc. now owns 28,559 shares of the company’s stock valued at $1,988,000 after acquiring an additional 12,500 shares in the last quarter. Verition Fund Management LLC purchased a new position in Axonics in the third quarter worth $10,673,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Axonics by 16.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,151 shares of the company’s stock worth $637,000 after purchasing an additional 1,297 shares in the last quarter. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

Axonics Stock Up 0.8 %

Shares of Axonics stock opened at $70.98 on Friday. The stock’s fifty day moving average is $69.83 and its two-hundred day moving average is $68.54. Axonics has a 52 week low of $55.09 and a 52 week high of $71.05. The company has a market capitalization of $3.63 billion, a PE ratio of -591.50 and a beta of 0.82.

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.