Insider Selling: Axonics, Inc. (NASDAQ:AXNX) EVP Sells 30,215 Shares of Stock

Axonics, Inc. (NASDAQ:AXNX – Get Rating) EVP John Woock sold 30,215 shares of Axonics stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $67.34, for a total value of $2,034,678.10. Following the completion of the transaction, the executive vice president now owns 45,976 shares of the company’s stock, valued at approximately $3,096,023.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Axonics Trading Down 0.3 %

AXNX opened at $61.84 on Friday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -37.48 and a beta of 0.43. Axonics, Inc. has a 12 month low of $38.41 and a 12 month high of $79.92. The stock has a fifty day moving average price of $63.46 and a 200-day moving average price of $67.10.

Axonics (NASDAQ:AXNX – Get Rating) last released its quarterly earnings results on Monday, October 31st. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.13. The firm had revenue of $70.38 million during 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%. The business’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) EPS. On average, equities research analysts forecast that Axonics, Inc. will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Diversified Trust Co raised its position in shares of Axonics by 19.1% in the 4th quarter. Diversified Trust Co now owns 6,385 shares of the company’s stock worth $399,000 after acquiring an additional 1,023 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Axonics by 12.7% during the 4th quarter. Peregrine Capital Management LLC now owns 207,083 shares of the company’s stock worth $12,949,000 after buying an additional 23,393 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Axonics by 11.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 235,276 shares of the company’s stock worth $16,573,000 after buying an additional 25,030 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Axonics during the 3rd quarter worth $143,000. Finally, Glenmede Trust Co. NA grew its stake in Axonics by 33.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,963 shares of the company’s stock worth $701,000 after buying an additional 2,497 shares during the last quarter. 97.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXNX shares. Needham & Company LLC lowered Axonics from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. Royal Bank of Canada started coverage on Axonics in a research note on Friday, October 21st. They set an “outperform” rating and a $85.00 price target for the company. Wells Fargo & Company raised their price target on Axonics from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 1st. Piper Sandler raised their price target on Axonics from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 5th. Finally, Jefferies Financial Group initiated coverage on Axonics in a research report on Wednesday, October 12th. They set a “hold” rating and a $75.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Axonics currently has an average rating of “Moderate Buy” and a consensus price target of $78.11.

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.