Axonics (NASDAQ:AXNX) Earns “Hold” Rating from Needham & Company LLC

Axonics (NASDAQ:AXNX)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports.

Axonics Stock Performance

AXNX opened at $70.42 on Friday. The firm’s 50-day simple moving average is $69.70 and its 200-day simple moving average is $68.45. Axonics has a twelve month low of $49.70 and a twelve month high of $70.75. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -1,760.06 and a beta of 0.82.

Insider Transactions at Axonics

In other news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total value of $205,523.01. Following the sale, the chief financial officer now owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXNX. Janney Montgomery Scott LLC acquired a new position in Axonics during the 1st quarter worth about $218,000. Swiss National Bank lifted its position in Axonics by 0.6% during the 1st quarter. Swiss National Bank now owns 100,000 shares of the company’s stock worth $6,897,000 after buying an additional 600 shares in the last quarter. Headlands Technologies LLC lifted its position in Axonics by 31.1% during the 1st quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock worth $77,000 after buying an additional 265 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Axonics during the 1st quarter worth about $828,000. Finally, ProShare Advisors LLC lifted its position in Axonics by 54.9% during the 1st quarter. ProShare Advisors LLC now owns 12,752 shares of the company’s stock worth $880,000 after buying an additional 4,517 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

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.