Victory Capital Management Inc. Sells 200,923 Shares of Axonics, Inc. (NASDAQ:AXNX)

Victory Capital Management Inc. trimmed its stake in Axonics, Inc. (NASDAQ:AXNX – Get Rating) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,249 shares of the company’s stock after selling 200,923 shares during the period. Victory Capital Management Inc. owned approximately 0.73% of Axonics worth $22,458,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AXNX. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Axonics during the third quarter worth approximately $78,000. Van ECK Associates Corp purchased a new position in shares of Axonics during the fourth quarter worth approximately $128,000. Nuveen Asset Management LLC raised its stake in shares of Axonics by 60.9% during the third quarter. Nuveen Asset Management LLC now owns 729,425 shares of the company’s stock worth $51,381,000 after acquiring an additional 276,221 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Axonics by 70.4% during the fourth quarter. New York State Common Retirement Fund now owns 118,145 shares of the company’s stock worth $7,388,000 after acquiring an additional 48,794 shares in the last quarter. Finally, Prelude Capital Management LLC raised its stake in shares of Axonics by 21.0% during the third quarter. Prelude Capital Management LLC now owns 9,133 shares of the company’s stock worth $643,000 after acquiring an additional 1,584 shares in the last quarter. 97.49% of the stock is currently owned by institutional investors.

Axonics Stock Down 2.3 %

NASDAQ:AXNX opened at $50.33 on Monday. The stock has a market cap of $2.54 billion, a P/E ratio of -50.84 and a beta of 0.39. The firm’s fifty day simple moving average is $55.76 and its 200 day simple moving average is $59.45. Axonics, Inc. has a twelve month low of $46.57 and a twelve month high of $79.92.

Axonics (NASDAQ:AXNX – Get Rating) last released its quarterly earnings results on Monday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $65.03 million. Axonics had a negative net margin of 15.64% and a negative return on equity of 8.67%. The firm’s revenue for the quarter was up 45.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.50) earnings per share. On average, analysts expect that Axonics, Inc. will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXNX shares. Mizuho started coverage on shares of Axonics in a report on Thursday, April 13th. They issued a “buy” rating and a $75.00 target price on the stock. Truist Financial cut their target price on shares of Axonics from $82.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 17th. Finally, Needham & Company LLC raised their target price on shares of Axonics from $71.00 to $73.00 in a report on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Axonics currently has a consensus rating of “Moderate Buy” and an average price target of $78.88.

Insider Buying and Selling at Axonics

In other Axonics news, CFO Danny L. Dearen sold 15,000 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $55.27, for a total transaction of $829,050.00. Following the completion of the transaction, the chief financial officer now owns 23,993 shares of the company’s stock, valued at $1,326,093.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Axonics news, CFO Danny L. Dearen sold 15,000 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $55.27, for a total transaction of $829,050.00. Following the completion of the transaction, the chief financial officer now owns 23,993 shares of the company’s stock, valued at $1,326,093.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rinda Sama sold 19,929 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $56.27, for a total value of $1,121,404.83. Following the transaction, the chief operating officer now directly owns 55,854 shares of the company’s stock, valued at approximately $3,142,904.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,930 shares of company stock valued at $2,070,535. 2.31% of the stock is currently owned by company insiders.

About Axonics

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Axonics, Inc is a medical device company, which engages in developing and commercializing of novel implantable sacral neuromodulation (SNM) devices to treat patients with bladder and bowel dysfunction. Its product Bulkamid, which is a urethral bulking agent used to treat stress urinary incontinence in women.