Axonics, Inc. (NASDAQ:AXNX) Short Interest Up 5.4% in October

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

Insider Transactions at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction 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 $2,801,526.42. This represents a 6.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On Axonics

Institutional investors have recently bought and sold shares of the stock. KRYGER CAPITAL Ltd purchased a new position in shares of Axonics during the 1st quarter worth approximately $65,211,000. Magnetar Financial LLC grew its stake in Axonics by 218.3% in the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock worth $79,041,000 after purchasing an additional 785,981 shares during the period. Absolute Gestao de Investimentos Ltda. bought a new position in Axonics in the second quarter worth $32,681,000. Alpine Associates Management Inc. lifted its position in Axonics by 16.2% during the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after buying an additional 294,100 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Axonics during the 2nd quarter valued at $15,080,000. 99.48% of the stock is owned by institutional investors.

Axonics Trading Up 0.8 %

Shares of NASDAQ AXNX opened at $70.98 on Monday. The firm has a fifty day simple moving average of $69.87 and a two-hundred day simple moving average of $68.60. Axonics has a 12 month low of $55.09 and a 12 month high of $71.05. The firm has a market capitalization of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a report on Friday, November 8th. Eight research 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 target price 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.