Axonics, Inc. (NASDAQ:AXNX) Short Interest Down 12.8% in October

Axonics, Inc. (NASDAQ:AXNX) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 3,140,000 shares, a decline of 12.8% from the September 30th total of 3,600,000 shares. Based on an average daily trading volume, of 381,100 shares, the days-to-cover ratio is currently 8.2 days.

Insider Transactions at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of Axonics

A number of institutional investors and hedge funds have recently bought and sold shares of AXNX. Headlands Technologies LLC increased its position in shares of Axonics by 31.1% in the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after acquiring an additional 265 shares in the last quarter. Whittier Trust Co. raised its position in Axonics by 59.1% in the first quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock valued at $79,000 after purchasing an additional 424 shares during the period. Xponance Inc. lifted its stake in shares of Axonics by 7.5% during the second quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after purchasing an additional 225 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Axonics in the first quarter worth about $218,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Axonics by 12.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock valued at $469,000 after buying an additional 785 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Stock Down 0.2 %

Shares of AXNX traded down $0.13 during mid-day trading on Thursday, hitting $70.16. The company had a trading volume of 59,754 shares, compared to its average volume of 708,009. Axonics has a 1-year low of $48.99 and a 1-year high of $70.53. The business’s 50-day simple moving average is $69.51 and its 200-day simple moving average is $68.28. The stock has a market cap of $3.58 billion, a PE ratio of -219.22 and a beta of 0.82.

Axonics (NASDAQ:AXNX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $114.57 million during the quarter, compared to the consensus estimate of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) EPS. On average, sell-side analysts expect that Axonics will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Axonics has a consensus rating of “Hold” and an average target price of $69.57.

Axonics Company Profile

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.