Axonics, Inc. (NASDAQ:AXNX) Stock Position Lessened by Swiss National Bank

Swiss National Bank cut its stake in Axonics, Inc. (NASDAQ:AXNX) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,600 shares of the company’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in Axonics were worth $6,932,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AXNX. Alpine Associates Management Inc. lifted its holdings in Axonics by 16.2% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after acquiring an additional 294,100 shares during the last quarter. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Axonics in the 2nd quarter worth approximately $32,681,000. P Schoenfeld Asset Management LP lifted its stake in 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 purchasing an additional 170,000 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Axonics by 26.5% during the second quarter. Hsbc Holdings PLC now owns 322,853 shares of the company’s stock valued at $21,715,000 after purchasing an additional 67,603 shares during the last quarter. Finally, Gabelli Funds LLC boosted its holdings in Axonics by 54.0% during the second quarter. Gabelli Funds LLC now owns 273,975 shares of the company’s stock worth $18,419,000 after buying an additional 96,050 shares in the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Axonics Price Performance

Axonics stock opened at $70.98 on Wednesday. Axonics, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $71.05. The firm’s 50 day simple moving average is $70.13 and its 200-day simple moving average is $68.75. The company has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

Insiders Place Their Bets

In other news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.85% 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.