Axonics (NASDAQ:AXNX) Reaches New 52-Week High – What’s Next?

Axonics, Inc. (NASDAQ:AXNX)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $70.75 and last traded at $70.45, with a volume of 82242 shares. The stock had previously closed at $70.31.

Analyst Upgrades and Downgrades

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, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.00.

Axonics Stock Performance

The company has a market capitalization of $3.60 billion, a PE ratio of -1,761.50 and a beta of 0.82. The company’s 50-day moving average is $69.62 and its 200 day moving average is $68.38.

Insider Activity at Axonics

In other news, CFO Kari Leigh Keese sold 2,961 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 40,362 shares in the company, valued at $2,801,526.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXNX. KRYGER CAPITAL Ltd purchased a new stake in Axonics during the 1st quarter valued at $65,211,000. Magnetar Financial LLC increased its position in Axonics by 218.3% during the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock valued at $79,041,000 after acquiring an additional 785,981 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new position in Axonics in the second quarter valued at about $32,681,000. Alpine Associates Management Inc. boosted its position in Axonics by 16.2% in the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after purchasing an additional 294,100 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Axonics during the 2nd quarter valued at about $15,080,000. Institutional investors own 99.48% of the company’s stock.

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.