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

Axonics, Inc. (NASDAQ:AXNX - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 3,140,000 shares, a decrease of 12.8% from the September 30th total of 3,600,000 shares. Based on an average daily volume of 381,100 shares, the short-interest ratio is currently 8.2 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Axonics in a research note on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $69.57.

Insider Buying and Selling

In other news, CFO Kari Leigh Keese sold 2,961 shares of Axonics 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 sale, the chief financial officer now directly owns 40,362 shares of the company's stock, valued at $2,801,526.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.85% of the company's stock.

Institutional Trading of Axonics

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC increased its holdings in Axonics by 31.1% in the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company's stock valued at $77,000 after purchasing an additional 265 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Axonics by 59.1% in the first quarter. Whittier Trust Co. now owns 1,142 shares of the company's stock valued at $79,000 after buying an additional 424 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Axonics in the 1st quarter valued at $218,000. Xponance Inc. lifted its stake in Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company's stock worth $217,000 after acquiring an additional 225 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Axonics by 12.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company's stock valued at $469,000 after acquiring an additional 785 shares during the period. 99.48% of the stock is owned by institutional investors and hedge funds.

Axonics Price Performance

Axonics stock remained flat at $70.24 during midday trading on Tuesday. 309,026 shares of the company traded hands, compared to its average volume of 713,220. The stock's fifty day moving average price is $69.49 and its 200-day moving average price is $68.27. Axonics has a 52-week low of $48.30 and a 52-week high of $70.53. The firm has a market cap of $3.58 billion, a PE ratio of -219.50 and a beta of 0.82.

Axonics (NASDAQ:AXNX - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $114.57 million for the quarter, compared to analysts' expectations of $112.83 million. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The firm's quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) earnings per share. As a group, equities analysts anticipate that Axonics will post 0.24 EPS for the current fiscal year.

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.