Axonics, Inc. (NASDAQ:AXNX) Shares Acquired by Westchester Capital Management LLC

Westchester Capital Management LLC increased its position in Axonics, Inc. (NASDAQ:AXNX) by 7.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,450,381 shares of the company’s stock after purchasing an additional 98,171 shares during the period. Axonics accounts for about 4.3% of Westchester Capital Management LLC’s holdings, making the stock its 7th biggest holding. Westchester Capital Management LLC owned 2.84% of Axonics worth $100,947,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Axonics during the second quarter worth about $32,681,000. Alpine Associates Management Inc. raised its stake in shares of Axonics by 16.2% during the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after buying an additional 294,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Axonics during the second quarter worth $15,080,000. Squarepoint Ops LLC increased its holdings in shares of 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 purchasing an additional 185,809 shares in the last quarter. Finally, P Schoenfeld Asset Management LP boosted its holdings in Axonics by 65.6% during the second quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock worth $28,847,000 after buying an additional 170,000 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.

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 data from MarketBeat, Axonics presently has an average rating of “Hold” and an average target price of $71.00.

Insiders Place Their Bets

In related news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 6.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by corporate insiders.

Axonics Stock Performance

NASDAQ:AXNX opened at $70.98 on Friday. Axonics, Inc. has a 12-month low of $55.09 and a 12-month high of $71.05. The company’s 50-day moving average is $70.25 and its two-hundred day moving average is $68.81. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -591.45 and a beta of 0.82.

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.