Axonics, Inc. (NASDAQ:AXNX) is ClearAlpha Technologies LP’s 8th Largest Position

ClearAlpha Technologies LP lifted its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 25.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,955 shares of the company’s stock after acquiring an additional 24,552 shares during the period. Axonics accounts for about 2.3% of ClearAlpha Technologies LP’s holdings, making the stock its 8th biggest position. ClearAlpha Technologies LP’s holdings in Axonics were worth $8,418,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Absolute Gestao de Investimentos Ltda. purchased a new stake in Axonics during the 2nd quarter valued at approximately $32,681,000. Alpine Associates Management Inc. raised its stake in shares of Axonics by 16.2% during the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after purchasing an additional 294,100 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Axonics during the second quarter worth $15,080,000. Squarepoint Ops LLC grew its position in Axonics by 3,961.0% in the 2nd 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 during the last quarter. Finally, P Schoenfeld Asset Management LP increased its stake in Axonics by 65.6% in the 2nd 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 during the period. 99.48% of the stock is owned by institutional investors and hedge funds.

Axonics Trading Up 0.8 %

AXNX stock opened at $70.98 on Monday. The firm has a 50 day moving average of $70.28 and a 200-day moving average of $68.85. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82. Axonics, Inc. has a 12-month low of $55.09 and a 12-month high of $71.05.

Insider Buying and Selling

In related news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were 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 approximately $2,801,526.42. This represents a 6.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “hold” rating on shares of Axonics in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.00.

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.