State Street Corp Decreases Holdings in Axonics, Inc. (NASDAQ:AXNX)

State Street Corp trimmed its position in shares of Axonics, Inc. (NASDAQ:AXNX) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,184,492 shares of the company’s stock after selling 26,460 shares during the quarter. State Street Corp’s holdings in Axonics were worth $82,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of AXNX. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Axonics during the 2nd quarter valued at $32,681,000. Alpine Associates Management Inc. lifted its holdings 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 valued at $141,779,000 after buying an additional 294,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Axonics during the 2nd quarter valued at $15,080,000. Squarepoint Ops LLC lifted its holdings in shares of Axonics by 3,961.0% during 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 period. Finally, Melqart Asset Management UK Ltd lifted its holdings in shares of Axonics by 53.3% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 509,922 shares of the company’s stock valued at $35,491,000 after buying an additional 177,197 shares during the period. 99.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the sale, the chief financial officer now owns 40,362 shares in the company, valued at approximately $2,801,526.42. This represents a 6.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently owned by company insiders.

Axonics Stock Performance

Shares of AXNX stock opened at $70.98 on Tuesday. Axonics, Inc. has a 52-week low of $55.09 and a 52-week high of $71.05. The firm has a market capitalization of $3.63 billion, a PE ratio of -591.45 and a beta of 0.82. The stock has a fifty day simple moving average of $70.61 and a two-hundred day simple moving average of $69.13.

Wall Street Analysts Forecast Growth

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

About Axonics

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.