Bank of New York Mellon Corp Has $11.85 Million Position in Axonics, Inc. (NASDAQ:AXNX)

Bank of New York Mellon Corp lessened its holdings in Axonics, Inc. (NASDAQ:AXNX) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,263 shares of the company’s stock after selling 5,338 shares during the period. Bank of New York Mellon Corp owned approximately 0.43% of Axonics worth $11,854,000 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 AXNX. Van ECK Associates Corp bought a new position in shares of Axonics during the 4th quarter worth approximately $128,000. Aigen Investment Management LP boosted its stake in shares of Axonics by 224.3% in the 4th quarter. Aigen Investment Management LP now owns 11,711 shares of the company’s stock valued at $732,000 after purchasing an additional 8,100 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Axonics by 40.9% in the 4th quarter. Handelsbanken Fonder AB now owns 6,200 shares of the company’s stock worth $388,000 after purchasing an additional 1,800 shares during the last quarter. Castleark Management LLC increased its position in shares of Axonics by 1.6% during the 4th quarter. Castleark Management LLC now owns 124,520 shares of the company’s stock worth $7,786,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Axonics by 6.1% during the 1st quarter. Eagle Asset Management Inc. now owns 385,699 shares of the company’s stock valued at $21,043,000 after purchasing an additional 22,018 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho reaffirmed a “buy” rating and set a $75.00 price objective on shares of Axonics in a research note on Friday, July 14th. Royal Bank of Canada reduced their price target on shares of Axonics from $85.00 to $75.00 in a research report on Wednesday, July 12th. Needham & Company LLC raised their price objective on shares of Axonics from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, July 28th. KeyCorp upped their target price on shares of Axonics from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Finally, CL King initiated coverage on shares of Axonics in a report on Tuesday, May 23rd. They issued a “buy” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.36.

Insiders Place Their Bets

In related news, insider Alfred J. Ford, Jr. sold 14,769 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $62.34, for a total value of $920,699.46. Following the completion of the sale, the insider now owns 34,565 shares in the company, valued at approximately $2,154,782.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Axonics news, insider Alfred J. Ford, Jr. sold 14,769 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $62.34, for a total value of $920,699.46. Following the completion of the transaction, the insider now directly owns 34,565 shares of the company’s stock, valued at $2,154,782.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alfred J. Ford, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $62.01, for a total value of $93,015.00. Following the sale, the insider now directly owns 49,334 shares in the company, valued at approximately $3,059,201.34. The disclosure for this sale can be found here. Company insiders own 1.85% of the company’s stock.

Axonics Stock Down 1.3 %

AXNX stock opened at $57.30 on Friday. Axonics, Inc. has a twelve month low of $47.59 and a twelve month high of $79.92. The company has a market cap of $2.89 billion, a P/E ratio of -85.52 and a beta of 0.41. The business’s fifty day moving average is $54.71 and its 200-day moving average is $54.71.

Axonics (NASDAQ:AXNX) last released its earnings results on Thursday, July 27th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $92.90 million during the quarter, compared to analyst estimates of $86.45 million. Axonics had a negative net margin of 10.06% and a negative return on equity of 5.60%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. Research analysts anticipate that Axonics, Inc. will post -0.35 earnings per share for the current fiscal year.

Axonics Company Profile

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 bladder and bowel dysfunction.