Axonics, Inc. (NASDAQ:AXNX) Short Interest Update

Axonics, Inc. (NASDAQ:AXNX) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 3,310,000 shares, an increase of 5.4% from the October 15th total of 3,140,000 shares. Based on an average daily trading volume, of 388,400 shares, the days-to-cover ratio is currently 8.5 days.

Axonics Stock Performance

AXNX remained flat at $70.98 on Friday. Axonics has a 52-week low of $55.09 and a 52-week high of $71.05. The stock has a 50 day moving average price of $69.87 and a two-hundred day moving average price of $68.59.

Insider Buying and Selling at Axonics

In related news, CFO Kari Leigh Keese sold 2,961 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Axonics

A number of institutional investors have recently made changes to their positions in AXNX. Headlands Technologies LLC increased its stake in shares of Axonics by 162.1% in the second quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock worth $197,000 after buying an additional 1,811 shares during the last quarter. Murchinson Ltd. bought a new stake in shares of Axonics in the 3rd quarter worth about $209,000. Xponance Inc. raised its stake in shares of Axonics by 7.5% in the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock valued at $217,000 after purchasing an additional 225 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Axonics during the first quarter worth about $218,000. Finally, MML Investors Services LLC grew its stake in Axonics by 14.8% in the third quarter. MML Investors Services LLC now owns 4,107 shares of the company’s stock worth $286,000 after purchasing an additional 529 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Friday, November 8th. Eight analysts have rated the stock with a hold rating, According to data from MarketBeat, Axonics currently has a consensus rating of “Hold” and a consensus target price of $71.00.

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.