Insider Selling: Axonics, Inc. (NASDAQ:AXNX) CEO Sells 40,736 Shares of Stock

Axonics, Inc. (NASDAQ:AXNX – Get Rating) CEO Raymond W. Cohen sold 40,736 shares of the firm’s stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $65.94, for a total value of $2,686,131.84. Following the completion of the sale, the chief executive officer now directly owns 108,899 shares of the company’s stock, valued at approximately $7,180,800.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Axonics Trading Down 6.2 %

Shares of Axonics stock opened at $62.02 on Friday. The business’s fifty day simple moving average is $63.46 and its 200 day simple moving average is $67.07. The firm has a market capitalization of $3.07 billion, a P/E ratio of -37.59 and a beta of 0.43. Axonics, Inc. has a 12 month low of $38.41 and a 12 month high of $79.92.

Axonics (NASDAQ:AXNX – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13. The business had revenue of $70.38 million for the quarter, compared to analyst estimates of $62.98 million. Axonics had a negative return on equity of 15.63% and a negative net margin of 31.35%. Axonics’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same period last year, the company posted ($0.38) earnings per share. Analysts predict that Axonics, Inc. will post -1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Axonics from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, November 1st. Truist Financial dropped their target price on Axonics from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday, December 20th. TheStreet upgraded Axonics from a “d+” rating to a “c” rating in a report on Monday, October 31st. Needham & Company LLC lowered Axonics from a “buy” rating to a “hold” rating in a report on Monday, October 10th. Finally, Piper Sandler raised their target price on Axonics from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, October 5th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.11.

Institutional Trading of Axonics

Several hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY raised its stake in shares of Axonics by 5.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 2,945 shares of the company’s stock valued at $207,000 after buying an additional 163 shares during the period. Arizona State Retirement System raised its stake in shares of Axonics by 2.0% in the third quarter. Arizona State Retirement System now owns 10,233 shares of the company’s stock valued at $721,000 after buying an additional 196 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Axonics by 14.1% in the second quarter. Nisa Investment Advisors LLC now owns 1,620 shares of the company’s stock valued at $92,000 after buying an additional 200 shares during the period. LPL Financial LLC raised its stake in shares of Axonics by 6.3% in the second quarter. LPL Financial LLC now owns 3,727 shares of the company’s stock valued at $211,000 after buying an additional 222 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Axonics by 34.1% in the second quarter. Captrust Financial Advisors now owns 947 shares of the company’s stock valued at $54,000 after buying an additional 241 shares during the period. 97.49% of the stock is currently owned by institutional investors.

Axonics Company Profile

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Axonics, Inc is a medical device company, which engages in developing and commercializing of novel implantable sacral neuromodulation (SNM) devices to treat patients with bladder and bowel dysfunction. Its product Bulkamid, which is a urethral bulking agent used to treat stress urinary incontinence in women.