Axonics, Inc. (NASDAQ:AXNX) is Twin Securities Inc.’s 8th Largest Position

Twin Securities Inc. increased its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 77.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,559 shares of the company’s stock after buying an additional 12,500 shares during the period. Axonics comprises approximately 2.2% of Twin Securities Inc.’s holdings, making the stock its 8th largest holding. Twin Securities Inc. owned about 0.06% of Axonics worth $1,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Absolute Gestao de Investimentos Ltda. purchased a new stake in Axonics during the second quarter worth $32,681,000. Alpine Associates Management Inc. raised its position in shares of Axonics by 16.2% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after acquiring an additional 294,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Axonics during the 2nd quarter worth $15,080,000. Squarepoint Ops LLC boosted its position in Axonics by 3,961.0% during the second quarter. Squarepoint Ops LLC now owns 190,500 shares of the company’s stock valued at $12,807,000 after purchasing an additional 185,809 shares in the last quarter. Finally, P Schoenfeld Asset Management LP grew its stake in Axonics by 65.6% in the second quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock valued at $28,847,000 after purchasing an additional 170,000 shares during the last quarter. 99.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.00.

Axonics Stock Performance

NASDAQ:AXNX opened at $70.98 on Friday. The stock has a 50 day moving average of $70.25 and a two-hundred day moving average of $68.81. Axonics, Inc. has a 12 month low of $55.09 and a 12 month high of $71.05. The firm has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

Insider Transactions at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was 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 owns 40,362 shares of the company’s stock, valued at $2,801,526.42. This trade represents a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.85% of the company’s stock.

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.