Entropy Technologies LP Takes $395,000 Position in Axonics, Inc. (NASDAQ:AXNX)

Entropy Technologies LP bought a new stake in Axonics, Inc. (NASDAQ:AXNX) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 5,674 shares of the company’s stock, valued at approximately $395,000.

Other institutional investors have also added to or reduced their stakes in the company. Alpine Associates Management Inc. increased its stake in shares of Axonics by 16.2% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock valued at $141,779,000 after purchasing an additional 294,100 shares during the last quarter. Magnetar Financial LLC grew its position in Axonics by 218.3% in the first quarter. Magnetar Financial LLC now owns 1,146,019 shares of the company’s stock valued at $79,041,000 after acquiring an additional 785,981 shares during the last quarter. KRYGER CAPITAL Ltd acquired a new position in Axonics during the first quarter worth about $65,211,000. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Axonics in the second quarter worth about $32,681,000. Finally, P Schoenfeld Asset Management LP grew its holdings in shares of Axonics by 65.6% during the 2nd quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock valued at $28,847,000 after purchasing an additional 170,000 shares during the last quarter. 99.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Axonics Price Performance

Axonics stock opened at $70.98 on Friday. The business has a 50 day moving average of $69.87 and a 200-day moving average of $68.57. Axonics, Inc. has a 1 year low of $55.09 and a 1 year high of $71.05. The company has a market capitalization of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

Insider Buying and Selling at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $69.41, for a total transaction of $205,523.01. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.