Axonics, Inc. (NASDAQ:AXNX) Given Average Rating of “Hold” by Brokerages

Shares of Axonics, Inc. (NASDAQ:AXNX) have been given an average recommendation of “Hold” by the eight brokerages that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $71.00.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research note on Friday, November 8th.

Insiders Place Their Bets

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of Axonics 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 sale, the chief financial officer now owns 40,362 shares in the company, valued at $2,801,526.42. The trade was a 6.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AXNX. Franklin Resources Inc. increased its position in Axonics by 65.2% during the third quarter. Franklin Resources Inc. now owns 28,489 shares of the company’s stock worth $2,000,000 after purchasing an additional 11,243 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Axonics during the 3rd quarter valued at $139,000. Geode Capital Management LLC increased its holdings in shares of Axonics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,200,745 shares of the company’s stock worth $83,587,000 after buying an additional 15,220 shares during the last quarter. Barclays PLC raised its position in shares of Axonics by 50.3% in the 3rd quarter. Barclays PLC now owns 96,378 shares of the company’s stock worth $6,707,000 after buying an additional 32,267 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Axonics by 14.8% in the 3rd quarter. MML Investors Services LLC now owns 4,107 shares of the company’s stock worth $286,000 after buying an additional 529 shares during the period. 99.48% of the stock is currently owned by hedge funds and other institutional investors.

Axonics Stock Performance

Axonics stock opened at $70.98 on Tuesday. Axonics has a fifty-two week low of $55.09 and a fifty-two week high of $71.05. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82. The stock has a fifty day moving average of $70.59 and a two-hundred day moving average of $69.09.

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.