Melqart Asset Management UK Ltd Raises Holdings in Axonics, Inc. (NASDAQ:AXNX)

Melqart Asset Management UK Ltd increased its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 53.3% in the third quarter, HoldingsChannel reports. The firm owned 509,922 shares of the company’s stock after buying an additional 177,197 shares during the period. Axonics makes up 3.2% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 10th largest position. Melqart Asset Management UK Ltd’s holdings in Axonics were worth $35,491,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AXNX. Headlands Technologies LLC boosted its holdings in shares of 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 period. Murchinson Ltd. acquired a new stake in Axonics during the third quarter worth approximately $209,000. Xponance Inc. boosted its holdings in shares of Axonics by 7.5% during the second 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. Entropy Technologies LP acquired a new position in shares of Axonics in the third quarter valued at approximately $395,000. Finally, Mercer Global Advisors Inc. ADV increased 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 worth $469,000 after purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

Axonics Trading Up 0.8 %

Shares of AXNX stock opened at $70.98 on Wednesday. The stock has a 50 day simple moving average of $70.36 and a 200 day simple moving average of $68.90. Axonics, Inc. has a 1 year low of $55.09 and a 1 year high of $71.05. The stock has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

Insider Activity

In other news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This represents a 6.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated 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 stock currently has a consensus rating of “Hold” and an average price target of $71.00.

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.