Maven Securities LTD Takes Position in Axonics, Inc. (NASDAQ:AXNX)

Maven Securities LTD purchased a new stake in shares of Axonics, Inc. (NASDAQ:AXNX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,000 shares of the company’s stock, valued at approximately $1,008,000.

Several other hedge funds have also recently bought and sold shares of AXNX. Granite Bay Wealth Management LLC bought a new position in shares of Axonics in the second quarter valued at approximately $1,698,000. Algert Global LLC raised its position in Axonics by 26.0% in the 2nd quarter. Algert Global LLC now owns 33,847 shares of the company’s stock worth $2,276,000 after purchasing an additional 6,978 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Axonics during the 2nd quarter valued at about $1,208,000. The Manufacturers Life Insurance Company lifted its stake in shares of Axonics by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,485 shares of the company’s stock valued at $1,444,000 after purchasing an additional 974 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in Axonics in the second quarter valued at approximately $999,000. 99.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.57.

Axonics Trading Down 0.3 %

Axonics stock opened at $69.41 on Wednesday. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -216.91 and a beta of 0.81. The firm’s fifty day moving average price is $68.85 and its two-hundred day moving average price is $68.02. Axonics, Inc. has a 1-year low of $48.30 and a 1-year high of $69.91.

Axonics (NASDAQ:AXNX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Axonics had a negative return on equity of 0.27% and a negative net margin of 0.42%. The business had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $112.83 million. During the same period in the previous year, the business posted ($0.15) EPS. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, research analysts forecast that Axonics, Inc. will post 0.24 EPS for the current year.

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.