Dynamic Technology Lab Private Ltd Lowers Holdings in Axonics, Inc. (NASDAQ:AXNX)

Dynamic Technology Lab Private Ltd reduced its stake in Axonics, Inc. (NASDAQ:AXNX) by 45.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,600 shares of the company’s stock after selling 11,241 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Axonics were worth $946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Absolute Gestao de Investimentos Ltda. purchased a new stake in Axonics during the 2nd quarter valued at about $32,681,000. Alpine Associates Management Inc. lifted its stake in shares of Axonics by 16.2% in the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after buying an additional 294,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Axonics during the second quarter valued at approximately $15,080,000. Squarepoint Ops LLC grew its holdings in shares of Axonics by 3,961.0% during the second quarter. Squarepoint Ops LLC now owns 190,500 shares of the company’s stock valued at $12,807,000 after buying an additional 185,809 shares during the last quarter. Finally, P Schoenfeld Asset Management LP increased its position in shares of Axonics by 65.6% during the second quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock valued at $28,847,000 after acquiring an additional 170,000 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of Axonics stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total transaction of $205,523.01. Following the transaction, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. The trade was a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $71.00.

Axonics Stock Performance

Shares of AXNX stock opened at $70.98 on Thursday. Axonics, Inc. has a 12-month low of $55.09 and a 12-month high of $71.05. The stock has a market capitalization of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82. The firm’s 50 day moving average is $70.17 and its 200 day moving average is $68.78.

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.