Slotnik Capital LLC Increases Holdings in Axonics, Inc. (NASDAQ:AXNX)

Slotnik Capital LLC boosted its stake in shares of Axonics, Inc. (NASDAQ:AXNX) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,186 shares of the company’s stock after acquiring an additional 15,402 shares during the quarter. Axonics accounts for 2.7% of Slotnik Capital LLC’s holdings, making the stock its 12th largest position. Slotnik Capital LLC owned approximately 0.23% of Axonics worth $8,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of AXNX. Absolute Gestao de Investimentos Ltda. purchased a new position in Axonics during the second quarter valued at approximately $32,681,000. Alpine Associates Management Inc. increased its position in shares of Axonics by 16.2% in the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after buying an additional 294,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Axonics in the second quarter valued at approximately $15,080,000. Squarepoint Ops LLC increased its position in shares of Axonics by 3,961.0% in the second quarter. Squarepoint Ops LLC now owns 190,500 shares of the company’s stock valued at $12,807,000 after buying an additional 185,809 shares in the last quarter. Finally, P Schoenfeld Asset Management LP increased its position in shares of Axonics by 65.6% in the second quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock valued at $28,847,000 after buying an additional 170,000 shares in the last quarter. 99.48% of the stock is currently 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 research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, According to MarketBeat, Axonics presently has an average rating of “Hold” and an average target price of $71.00.

Axonics Price Performance

Shares of NASDAQ:AXNX opened at $70.98 on Friday. The business’s 50 day moving average price is $70.28 and its 200-day moving average price is $68.83. The firm has a market capitalization of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82. Axonics, Inc. has a 1 year low of $55.09 and a 1 year high of $71.05.

Insider Transactions at Axonics

In other news, CFO Kari Leigh Keese sold 2,961 shares of Axonics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total value of $205,523.01. Following the sale, the chief financial officer now directly owns 40,362 shares of the company’s stock, valued at $2,801,526.42. The trade was a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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 OAB, UR, and FI.