Magnetar Financial LLC Trims Stock Holdings in Axonics, Inc. (NASDAQ:AXNX)

Magnetar Financial LLC lowered its stake in shares of Axonics, Inc. (NASDAQ:AXNX) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,141,334 shares of the company’s stock after selling 4,685 shares during the period. Axonics accounts for approximately 1.6% of Magnetar Financial LLC’s portfolio, making the stock its 17th biggest holding. Magnetar Financial LLC owned 2.24% of Axonics worth $76,732,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its position in Axonics by 31.1% during the first quarter. Headlands Technologies LLC now owns 1,117 shares of the company’s stock valued at $77,000 after acquiring an additional 265 shares during the period. Whittier Trust Co. increased its position in Axonics by 59.1% during the 1st quarter. Whittier Trust Co. now owns 1,142 shares of the company’s stock worth $79,000 after purchasing an additional 424 shares in the last quarter. Inspirion Wealth Advisors LLC purchased a new position in Axonics in the first quarter valued at approximately $207,000. Janney Montgomery Scott LLC purchased a new position in Axonics in the first quarter valued at approximately $218,000. Finally, Brown Brothers Harriman & Co. lifted its position in Axonics by 33.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,580 shares of the company’s stock valued at $223,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds own 99.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “hold” rating on shares of Axonics in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.57.

Axonics Trading Down 0.1 %

Shares of NASDAQ:AXNX opened at $69.15 on Monday. The firm has a market cap of $3.53 billion, a PE ratio of -216.09 and a beta of 0.81. The company has a fifty day simple moving average of $68.67 and a 200 day simple moving average of $67.95. Axonics, Inc. has a 12-month low of $48.30 and a 12-month high of $69.68.

Axonics (NASDAQ:AXNX) last released its earnings results on Thursday, August 1st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The company had revenue of $114.57 million during the quarter, compared to the consensus estimate of $112.83 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s revenue was up 23.3% on a year-over-year basis. As a group, equities research analysts forecast that Axonics, Inc. will post 0.24 EPS for the current fiscal year.

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 OAB, UR, and FI.