Axonics, Inc. (NASDAQ:AXNX) Sees Significant Increase in Short Interest

Axonics, Inc. (NASDAQ:AXNX) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,310,000 shares, a growth of 5.4% from the October 15th total of 3,140,000 shares. Based on an average daily trading volume, of 388,400 shares, the short-interest ratio is presently 8.5 days.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total value of $205,523.01. Following the transaction, the chief financial officer now owns 40,362 shares in the company, valued at $2,801,526.42. The trade was a 6.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AXNX. Headlands Technologies LLC lifted its stake in shares of Axonics by 162.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock worth $197,000 after purchasing an additional 1,811 shares during the period. Murchinson Ltd. bought a new position in Axonics in the third quarter worth approximately $209,000. Xponance Inc. boosted its stake in shares of Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after acquiring an additional 225 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Axonics during the 1st quarter valued at $218,000. Finally, MML Investors Services LLC increased its stake in shares of Axonics by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 4,107 shares of the company’s stock worth $286,000 after purchasing an additional 529 shares in the last quarter. 99.48% of the stock is owned by hedge funds and other institutional investors.

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 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 $69.87 and a 200 day moving average of $68.60.

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.