Axonics, Inc. (NASDAQ:AXNX) Sees Significant Growth in Short Interest

Axonics, Inc. (NASDAQ:AXNX) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,040,000 shares, an increase of 17.4% from the March 31st total of 3,440,000 shares. Based on an average trading volume of 919,900 shares, the short-interest ratio is currently 4.4 days.

Axonics Price Performance

AXNX traded up $0.15 on Friday, hitting $66.69. The company had a trading volume of 318,433 shares, compared to its average volume of 921,149. Axonics has a 52-week low of $47.59 and a 52-week high of $69.68. The stock has a fifty day simple moving average of $67.90 and a 200-day simple moving average of $62.79. The firm has a market capitalization of $3.40 billion, a P/E ratio of -512.96 and a beta of 0.56.

Axonics (NASDAQ:AXNX) last released its earnings results on Wednesday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. Axonics had a negative net margin of 1.66% and a negative return on equity of 1.00%. The firm had revenue of $109.70 million during the quarter, compared to analyst estimates of $107.33 million. During the same period last year, the business earned $0.01 earnings per share. The business’s revenue was up 27.7% on a year-over-year basis. Equities research analysts expect that Axonics will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $71.00 target price on shares of Axonics in a research note on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and issued a $71.00 target price (down previously from $75.00) on shares of Axonics in a research note on Friday, January 12th. Wolfe Research cut Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. Truist Financial reissued a “hold” rating and issued a $71.00 target price (down previously from $73.00) on shares of Axonics in a research note on Friday, January 12th. Finally, CL King reaffirmed a “neutral” rating on shares of Axonics in a research note on Friday, January 12th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.73.

Insider Transactions at Axonics

In other Axonics news, insider Karen Noblett sold 11,288 shares of Axonics stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $764,649.12. Following the completion of the transaction, the insider now owns 34,428 shares in the company, valued at approximately $2,332,152.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kari Leigh Keese sold 3,489 shares of Axonics stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $236,344.86. Following the sale, the chief financial officer now owns 43,323 shares of the company’s stock, valued at approximately $2,934,700.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karen Noblett sold 11,288 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total transaction of $764,649.12. Following the sale, the insider now directly owns 34,428 shares in the company, valued at approximately $2,332,152.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,837 shares of company stock valued at $4,459,798. Corporate insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On Axonics

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Axonics during the third quarter valued at approximately $37,000. NBC Securities Inc. increased its position in shares of Axonics by 106.4% during the fourth quarter. NBC Securities Inc. now owns 673 shares of the company’s stock valued at $41,000 after acquiring an additional 347 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Axonics during the fourth quarter valued at approximately $53,000. RiverPark Advisors LLC bought a new stake in shares of Axonics during the third quarter valued at approximately $58,000. Finally, C M Bidwell & Associates Ltd. increased its position in shares of Axonics by 108.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 1,270 shares of the company’s stock valued at $71,000 after acquiring an additional 660 shares in the last quarter. Institutional investors own 99.48% of the company’s stock.

Axonics Company 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.