LMR Partners LLP Reduces Stock Holdings in Axonics, Inc. (NASDAQ:AXNX)

LMR Partners LLP cut its holdings in Axonics, Inc. (NASDAQ:AXNX - Free Report) by 32.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,863 shares of the company's stock after selling 128,701 shares during the quarter. LMR Partners LLP owned approximately 0.53% of Axonics worth $18,782,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Axonics by 0.9% in the 2nd quarter. AQR Capital Management LLC now owns 18,337 shares of the company's stock valued at $1,233,000 after purchasing an additional 161 shares during the last quarter. Xponance Inc. raised its position in shares of Axonics by 7.5% in the second quarter. Xponance Inc. now owns 3,231 shares of the company's stock valued at $217,000 after buying an additional 225 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Axonics by 2.5% during the second quarter. Arizona State Retirement System now owns 14,278 shares of the company's stock valued at $960,000 after buying an additional 355 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Axonics by 12.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company's stock valued at $469,000 after buying an additional 785 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Axonics by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,485 shares of the company's stock worth $1,444,000 after acquiring an additional 974 shares during the period. 99.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction 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 sale, the chief financial officer now owns 40,362 shares of the company's stock, valued at $2,801,526.42. This represents a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.85% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a "hold" rating on shares of Axonics in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $71.00.

Axonics Price Performance

Axonics stock remained flat at $70.98 during midday trading on Monday. The business's 50 day simple moving average is $69.87 and its 200-day simple moving average is $68.60. Axonics, Inc. has a twelve month low of $55.09 and a twelve month high of $71.05. The company has a market cap of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82.

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.