Axonics Modulation Technologies (NASDAQ:AXNX) Shares Up 6.7%

Axonics Modulation Technologies Inc (NASDAQ:AXNX)’s stock price shot up 6.7% on Tuesday . The stock traded as high as $35.35 and last traded at $35.15, 131,746 shares traded hands during mid-day trading. A decline of 22% from the average session volume of 168,847 shares. The stock had previously closed at $32.94.

Several research firms have recently weighed in on AXNX. Zacks Investment Research downgraded shares of Axonics Modulation Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 8th. Wells Fargo & Co lifted their target price on shares of Axonics Modulation Technologies from $35.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. SunTrust Banks lifted their target price on shares of Axonics Modulation Technologies to $33.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Bank of America lifted their target price on shares of Axonics Modulation Technologies from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.78.

The company has a quick ratio of 11.51, a current ratio of 12.21 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $37.88. The stock has a market capitalization of $947.15 million and a P/E ratio of -7.58.



Axonics Modulation Technologies (NASDAQ:AXNX) last issued its earnings results on Monday, August 5th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). Axonics Modulation Technologies had a negative return on equity of 59.67% and a negative net margin of 1,515.61%. The firm had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $1.04 million. The firm’s revenue was up 12300.0% compared to the same quarter last year. Equities research analysts anticipate that Axonics Modulation Technologies Inc will post -2.28 EPS for the current fiscal year.

In other news, CEO Raymond W. Cohen bought 3,500 shares of Axonics Modulation Technologies stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $30.41 per share, with a total value of $106,435.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael V. Williamson sold 5,000 shares of Axonics Modulation Technologies stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $42.80, for a total transaction of $214,000.00. The disclosure for this sale can be found here. Insiders have sold 11,695 shares of company stock worth $458,663 over the last ninety days. 35.99% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Axonics Modulation Technologies by 143.5% in the 2nd quarter. BlackRock Inc. now owns 947,183 shares of the company’s stock valued at $38,806,000 after acquiring an additional 558,261 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Axonics Modulation Technologies by 1.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 238,193 shares of the company’s stock valued at $8,849,000 after acquiring an additional 2,752 shares during the period. Northern Trust Corp raised its stake in shares of Axonics Modulation Technologies by 28.9% in the 2nd quarter. Northern Trust Corp now owns 104,607 shares of the company’s stock valued at $4,286,000 after acquiring an additional 23,462 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Axonics Modulation Technologies by 195.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,969 shares of the company’s stock valued at $3,112,000 after acquiring an additional 50,293 shares during the period. Finally, Geode Capital Management LLC purchased a new stake in shares of Axonics Modulation Technologies in the 4th quarter valued at approximately $1,135,000. 29.11% of the stock is currently owned by institutional investors and hedge funds.

About Axonics Modulation Technologies (NASDAQ:AXNX)

Axonics Modulation Technologies, Inc, a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primarily used to treat patients with overactive bladder, including urinary urgency incontinence and urinary urgency frequency, fecal incontinence, and urinary retention.

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