Axonics, Inc. (NASDAQ:AXNX) Short Interest Update

Axonics, Inc. (NASDAQ:AXNXGet Rating) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 4,300,000 shares, a growth of 5.4% from the August 15th total of 4,080,000 shares. Based on an average trading volume of 633,300 shares, the days-to-cover ratio is presently 6.8 days.

Insider Buying and Selling

In other Axonics news, insider Danny L. Dearen sold 50,000 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.89, for a total value of $3,544,500.00. Following the completion of the transaction, the insider now owns 8,156 shares in the company, valued at approximately $578,178.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Danny L. Dearen sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $70.89, for a total value of $3,544,500.00. Following the transaction, the insider now owns 8,156 shares in the company, valued at $578,178.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Danny L. Dearen sold 656 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $75.60, for a total value of $49,593.60. Following the completion of the sale, the insider now directly owns 7,500 shares of the company’s stock, valued at $567,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,210 shares of company stock worth $12,266,109. 2.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AXNX. Credit Suisse AG lifted its stake in Axonics by 2.9% during the fourth quarter. Credit Suisse AG now owns 2,273,198 shares of the company’s stock worth $127,299,000 after purchasing an additional 64,421 shares during the last quarter. Bellevue Group AG raised its holdings in shares of Axonics by 9.5% during the 1st quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock valued at $128,280,000 after buying an additional 177,191 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Axonics by 11.9% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,538,387 shares of the company’s stock worth $96,303,000 after buying an additional 164,152 shares during the last quarter. Invesco Ltd. boosted its stake in Axonics by 8.6% in the first quarter. Invesco Ltd. now owns 1,171,343 shares of the company’s stock worth $73,326,000 after buying an additional 92,445 shares in the last quarter. Finally, Hood River Capital Management LLC grew its position in Axonics by 3.2% during the first quarter. Hood River Capital Management LLC now owns 1,057,837 shares of the company’s stock valued at $66,221,000 after acquiring an additional 32,826 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Needham & Company LLC upped their price objective on shares of Axonics from $60.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Wells Fargo & Company raised their price objective on shares of Axonics from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Morgan Stanley increased their target price on Axonics from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Piper Sandler boosted their price objective on Axonics from $77.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, August 2nd. Finally, Truist Financial raised their target price on Axonics from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $77.86.

Axonics Trading Down 1.3 %

Shares of NASDAQ AXNX opened at $74.09 on Wednesday. The business has a 50-day moving average of $70.07 and a 200-day moving average of $60.80. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -43.84 and a beta of 0.42. Axonics has a 12 month low of $38.41 and a 12 month high of $79.92.

Axonics (NASDAQ:AXNXGet Rating) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.10. The business had revenue of $68.98 million during the quarter, compared to analysts’ expectations of $60.05 million. Axonics had a negative net margin of 35.19% and a negative return on equity of 16.34%. The business’s quarterly revenue was up 50.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.59) EPS. On average, analysts predict that Axonics will post -1.86 earnings per share for the current year.

Axonics Company Profile

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Axonics, Inc, a medical technology company, engages in the development and commercialization of sacral neuromodulation (SNM) systems. The company's SNM systems are used to treat patients with overactive bladder, including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence and non-obstructive urinary retention.

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