Axonics, Inc. (NASDAQ:AXNX) Sees Significant Growth in Short Interest

Axonics, Inc. (NASDAQ:AXNX) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,310,000 shares, a growth of 5.4% from the October 15th total of 3,140,000 shares. Based on an average daily volume of 388,400 shares, the short-interest ratio is currently 8.5 days.

Axonics Stock Performance

Shares of AXNX stock opened at $70.98 on Tuesday. The firm has a fifty day simple moving average of $69.91 and a 200-day simple moving average of $68.63. The company has a market capitalization of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82. Axonics has a twelve month low of $55.09 and a twelve month high of $71.05.

Insider Activity at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total transaction of $205,523.01. Following the completion of the transaction, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. This trade represents a 6.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axonics

A number of institutional investors have recently modified their holdings of AXNX. Headlands Technologies LLC grew its stake in Axonics by 162.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock worth $197,000 after buying an additional 1,811 shares during the last quarter. Murchinson Ltd. bought a new position in shares of Axonics during the third quarter worth about $209,000. Janney Montgomery Scott LLC bought a new position in shares of Axonics during the first quarter worth about $218,000. Xponance Inc. increased its holdings in shares of Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after acquiring an additional 225 shares during the period. Finally, MML Investors Services LLC lifted its position in Axonics by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 4,107 shares of the company’s stock valued at $286,000 after purchasing an additional 529 shares during the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Wall Street Analyst Weigh In

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

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.