Axonics' (AXNX) "Hold" Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Axonics (NASDAQ:AXNX - Free Report) in a research report sent to investors on Friday morning,Benzinga reports.

Axonics Stock Performance

Shares of Axonics stock traded down $0.03 during midday trading on Friday, reaching $70.42. 233,837 shares of the company's stock traded hands, compared to its average volume of 702,037. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -1,760.06 and a beta of 0.82. Axonics has a 52 week low of $49.70 and a 52 week high of $70.75. The company's 50 day simple moving average is $69.70 and its 200 day simple moving average is $68.43.

Insiders Place Their Bets

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the transaction, the chief financial officer now owns 40,362 shares in the company, valued at $2,801,526.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On Axonics

A number of hedge funds have recently bought and sold shares of AXNX. Headlands Technologies LLC boosted its position in shares of Axonics by 31.1% in the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company's stock valued at $77,000 after acquiring an additional 265 shares during the period. Xponance Inc. raised its stake in Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company's stock valued at $217,000 after purchasing an additional 225 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Axonics in the 1st quarter valued at $218,000. Entropy Technologies LP acquired a new stake in Axonics in the 3rd quarter worth $395,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Axonics by 12.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company's stock worth $469,000 after purchasing an additional 785 shares during the period. 99.48% of the stock is currently owned by institutional investors.

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.