Short Interest in Axonics, Inc. (NASDAQ:AXNX) Grows By 5.4%

Axonics, Inc. (NASDAQ:AXNX - Get Free Report) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,310,000 shares, an increase of 5.4% from the October 15th total of 3,140,000 shares. Based on an average trading volume of 388,400 shares, the days-to-cover ratio is currently 8.5 days.

Insider Activity

In related news, CFO Kari Leigh Keese sold 2,961 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the sale, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. The trade was a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.85% of the stock is currently owned by company insiders.

Institutional Trading of Axonics

Several large investors have recently bought and sold shares of the business. Edgestream Partners L.P. bought a new position in shares of Axonics in the 1st quarter valued at $605,000. Janus Henderson Group PLC boosted its stake in shares of Axonics by 637.7% during the first quarter. Janus Henderson Group PLC now owns 178,322 shares of the company's stock valued at $12,298,000 after purchasing an additional 154,149 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Axonics during the first quarter valued at about $12,271,000. Cowen AND Company LLC bought a new stake in shares of Axonics during the second quarter worth about $605,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Axonics by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 218,171 shares of the company's stock valued at $14,668,000 after buying an additional 23,460 shares during the period. 99.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued 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 MarketBeat.com, Axonics has an average rating of "Hold" and a consensus price target of $71.00.

Axonics Price Performance

NASDAQ AXNX remained flat at $70.98 on Friday. Axonics has a twelve month low of $55.09 and a twelve month high of $71.05. The firm's fifty day moving average is $69.87 and its two-hundred day moving average is $68.59.

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.