Entropy Technologies LP Buys Shares of 5,674 Axonics, Inc. (NASDAQ:AXNX)

Entropy Technologies LP purchased a new stake in Axonics, Inc. (NASDAQ:AXNX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,674 shares of the company’s stock, valued at approximately $395,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpine Associates Management Inc. lifted its holdings in shares of Axonics by 16.2% during the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after purchasing an additional 294,100 shares in the last quarter. Magnetar Financial LLC boosted its holdings in shares of Axonics by 218.3% in the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock valued at $79,041,000 after buying an additional 785,981 shares during the period. KRYGER CAPITAL Ltd bought a new stake in shares of Axonics during the first quarter worth $65,211,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Axonics during the second quarter worth $32,681,000. Finally, P Schoenfeld Asset Management LP boosted its stake in Axonics by 65.6% in the 2nd quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock worth $28,847,000 after purchasing an additional 170,000 shares during the period. Institutional investors own 99.48% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kari Leigh Keese sold 2,961 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 40,362 shares in the company, valued at approximately $2,801,526.42. This trade represents a 6.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 reissued a “hold” rating on shares of Axonics in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Axonics currently has a consensus rating of “Hold” and an average target price of $71.00.

Axonics Price Performance

NASDAQ:AXNX opened at $70.98 on Friday. Axonics, Inc. has a twelve month low of $55.09 and a twelve month high of $71.05. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82. The stock’s 50 day moving average price is $69.87 and its two-hundred day moving average price is $68.57.

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.