Algert Global LLC Purchases 39,780 Shares of Axonics, Inc. (NASDAQ:AXNX)

Algert Global LLC boosted its position in Axonics, Inc. (NASDAQ:AXNX) by 117.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 73,627 shares of the company’s stock after buying an additional 39,780 shares during the quarter. Algert Global LLC’s holdings in Axonics were worth $5,124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its position in Axonics by 162.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock valued at $197,000 after purchasing an additional 1,811 shares during the period. Xponance Inc. raised 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 worth $217,000 after buying an additional 225 shares during the last quarter. Entropy Technologies LP acquired a new position in Axonics in the third quarter valued at approximately $395,000. Mercer Global Advisors Inc. ADV boosted its stake in Axonics by 12.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock valued at $469,000 after acquiring an additional 785 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Axonics by 379.6% during the 2nd quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock worth $559,000 after acquiring an additional 6,586 shares during the period. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.00.

Axonics Trading Up 0.8 %

Shares of Axonics stock opened at $70.98 on Monday. The stock’s fifty day simple moving average is $70.09 and its 200 day simple moving average is $68.73. The company has a market capitalization of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82. Axonics, Inc. has a 12 month low of $55.09 and a 12 month high of $71.05.

Insider Transactions at Axonics

In other 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by insiders.

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.