Axonics, Inc. (NASDAQ:AXNX) is Alpine Associates Management Inc.’s 2nd Largest Position

Alpine Associates Management Inc. boosted its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 16.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,108,871 shares of the company’s stock after buying an additional 294,100 shares during the quarter. Axonics accounts for approximately 6.8% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 2nd largest position. Alpine Associates Management Inc.’s holdings in Axonics were worth $141,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AXNX. Artisan Partners Limited Partnership lifted its position in shares of Axonics by 91.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,220,889 shares of the company’s stock worth $75,976,000 after purchasing an additional 583,958 shares during the last quarter. Magnetar Financial LLC lifted its position in shares of Axonics by 218.3% during the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock worth $79,041,000 after purchasing an additional 785,981 shares during the last quarter. KRYGER CAPITAL Ltd bought a new stake in shares of Axonics during the first quarter worth $65,211,000. Dimensional Fund Advisors LP lifted its position in shares of Axonics by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 922,295 shares of the company’s stock worth $57,397,000 after purchasing an additional 56,418 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of Axonics by 0.7% in the fourth quarter. Wasatch Advisors LP now owns 704,521 shares of the company’s stock valued at $43,842,000 after acquiring an additional 5,046 shares in the last quarter. 99.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Axonics Price Performance

AXNX stock opened at $68.83 on Monday. The business has a 50-day moving average price of $68.54 and a 200 day moving average price of $67.90. The company has a market capitalization of $3.52 billion, a P/E ratio of -215.09 and a beta of 0.81. Axonics, Inc. has a 1-year low of $48.30 and a 1-year high of $69.68.

Axonics (NASDAQ:AXNX) last announced its earnings results on Thursday, August 1st. The company reported $0.13 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 the consensus estimate of $112.83 million. Axonics had a negative net margin of 0.42% and a negative return on equity of 0.27%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts anticipate that Axonics, Inc. will post 0.24 earnings per share for the current fiscal year.

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.