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

Axonics, Inc. (NASDAQ:AXNX) was the recipient of a large decline in short interest in 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 volume of 381,100 shares, the short-interest ratio is currently 8.2 days.

Axonics Stock Performance

Shares of NASDAQ AXNX traded down $0.08 during mid-day trading on Tuesday, hitting $70.16. The stock had a trading volume of 62,488 shares, compared to its average volume of 712,041. The firm has a market cap of $3.58 billion, a P/E ratio of -219.50 and a beta of 0.82. The business has a 50 day moving average price of $69.46 and a two-hundred day moving average price of $68.25. Axonics has a 1 year low of $48.30 and a 1 year high of $70.53.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Axonics 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On Axonics

A number of large investors have recently made changes to their positions in the business. Alpine Associates Management Inc. boosted its holdings in Axonics by 16.2% in the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after acquiring an additional 294,100 shares in the last quarter. Magnetar Financial LLC lifted its position in shares of Axonics by 218.3% in the 1st quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock worth $79,041,000 after purchasing an additional 785,981 shares during the period. KRYGER CAPITAL Ltd bought a new stake in shares of Axonics during the 1st quarter valued at about $65,211,000. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Axonics during the second quarter valued at about $32,681,000. Finally, P Schoenfeld Asset Management LP raised 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 worth $28,847,000 after buying an additional 170,000 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

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.