Axonics, Inc. (NASDAQ:AXNX) Short Interest Update

Axonics, Inc. (NASDAQ:AXNX) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,480,000 shares, a growth of 5.8% from the August 15th total of 3,290,000 shares. Based on an average trading volume of 337,600 shares, the days-to-cover ratio is presently 10.3 days.

Axonics Trading Up 0.1 %

Axonics stock traded up $0.05 during mid-day trading on Wednesday, hitting $68.95. 220,112 shares of the company’s stock were exchanged, compared to its average volume of 747,900. The stock has a 50 day moving average of $68.60 and a two-hundred day moving average of $67.91. The stock has a market cap of $3.52 billion, a P/E ratio of -215.75 and a beta of 0.81. Axonics has a 1-year low of $48.30 and a 1-year high of $69.68.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Truist Financial Corp lifted its holdings in Axonics by 16.3% during the 4th quarter. Truist Financial Corp now owns 4,883 shares of the company’s stock worth $304,000 after purchasing an additional 685 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Axonics by 23.1% in the fourth quarter. Victory Capital Management Inc. now owns 6,760 shares of the company’s stock worth $421,000 after buying an additional 1,270 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Axonics by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 403,253 shares of the company’s stock valued at $25,094,000 after acquiring an additional 8,385 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Axonics by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 922,295 shares of the company’s stock valued at $57,397,000 after buying an additional 56,418 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Axonics by 461.1% during the fourth quarter. Principal Financial Group Inc. now owns 65,668 shares of the company’s stock worth $4,087,000 after buying an additional 53,965 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

Analyst Ratings Changes

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

Axonics Company 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.