Citigroup Inc. Has $45.04 Million Stock Position in Axonics, Inc. (NASDAQ:AXNX)

Citigroup Inc. lifted its stake in Axonics, Inc. (NASDAQ:AXNX) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 647,152 shares of the company’s stock after buying an additional 46,841 shares during the period. Citigroup Inc.’s holdings in Axonics were worth $45,042,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its position in Axonics by 0.9% during the 2nd quarter. AQR Capital Management LLC now owns 18,337 shares of the company’s stock worth $1,233,000 after acquiring an additional 161 shares during the last quarter. Xponance Inc. boosted its position in Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after buying an additional 225 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Axonics by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 14,278 shares of the company’s stock worth $960,000 after purchasing an additional 355 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Axonics by 12.7% in 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 last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Axonics by 4.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,485 shares of the company’s stock worth $1,444,000 after buying an additional 974 shares during the period. 99.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Axonics Price Performance

Shares of NASDAQ AXNX opened at $70.98 on Monday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82. The business has a 50-day moving average of $70.09 and a 200-day moving average of $68.73. Axonics, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $71.05.

Insider Activity

In other news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction dated 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. This trade represents a 6.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by corporate insiders.

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.