Axonics, Inc. (NASDAQ:AXNX) is Alpine Associates Management Inc.’s 2nd Largest Position

Alpine Associates Management Inc. increased its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,178,157 shares of the company’s stock after buying an additional 69,286 shares during the period. Axonics comprises approximately 6.9% of Alpine Associates Management Inc.’s holdings, making the stock its 2nd largest holding. Alpine Associates Management Inc. owned about 4.26% of Axonics worth $151,600,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC increased its stake in shares of Axonics by 162.1% during the second quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock valued at $197,000 after buying an additional 1,811 shares during the period. Xponance Inc. increased its stake in shares of Axonics by 7.5% during the second 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 period. Janney Montgomery Scott LLC purchased a new position in shares of Axonics during the first quarter valued at $218,000. Entropy Technologies LP purchased a new position in shares of Axonics during the third quarter valued at $395,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in Axonics by 12.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock valued at $469,000 after purchasing an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Axonics Price Performance

Shares of AXNX stock opened at $70.98 on Wednesday. Axonics, Inc. has a 1-year low of $55.09 and a 1-year high of $71.05. The stock’s 50-day moving average is $69.95 and its 200 day moving average is $68.65. The company has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research report 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 a consensus target price of $71.00.

Insiders Place Their Bets

In other Axonics 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 sale, the chief financial officer now owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This trade represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Axonics Profile

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.