Axonics, Inc. (NASDAQ:AXNX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,655 shares of the company’s stock after selling 3,608 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.42% of Axonics worth $10,783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXNX. JPMorgan Chase & Co. boosted its stake in Axonics by 6.3% during the 1st quarter. JPMorgan Chase & Co. now owns 98,932 shares of the company’s stock worth $6,192,000 after purchasing an additional 5,867 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Axonics by 6.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,207 shares of the company’s stock valued at $326,000 after acquiring an additional 326 shares during the last quarter. US Bancorp DE boosted its position in shares of Axonics by 15.5% during the 1st quarter. US Bancorp DE now owns 2,508 shares of the company’s stock valued at $157,000 after acquiring an additional 337 shares during the last quarter. Group One Trading L.P. boosted its position in shares of Axonics by 1,159.5% during the 1st quarter. Group One Trading L.P. now owns 5,038 shares of the company’s stock valued at $315,000 after acquiring an additional 4,638 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new position in shares of Axonics during the 1st quarter valued at about $200,000. Institutional investors and hedge funds own 99.00% of the company’s stock.

Axonics Price Performance

Shares of NASDAQ:AXNX opened at $56.29 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of -225.16 and a beta of 0.46. The firm’s 50-day moving average is $54.96 and its two-hundred day moving average is $54.07. Axonics, Inc. has a 1 year low of $47.59 and a 1 year high of $71.99.

Axonics (NASDAQ:AXNX) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.13. The company had revenue of $93.10 million for the quarter, compared to analyst estimates of $89.60 million. Axonics had a negative net margin of 3.50% and a negative return on equity of 2.04%. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) earnings per share. Analysts expect that Axonics, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC lowered their price target on shares of Axonics from $76.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. KeyCorp boosted their price target on shares of Axonics from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Piper Sandler lowered their price target on shares of Axonics from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 31st. Leerink Partnrs restated an “outperform” rating on shares of Axonics in a report on Monday, October 16th. Finally, SVB Leerink started coverage on shares of Axonics in a report on Monday, October 16th. They issued an “outperform” rating and a $70.00 price objective on the stock. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $71.60.

Insiders Place Their Bets

In other Axonics news, CFO Danny L. Dearen sold 7,675 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $56.87, for a total transaction of $436,477.25. Following the sale, the chief financial officer now directly owns 23,777 shares in the company, valued at $1,352,197.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.85% of the company’s stock.

Axonics 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.