Jennison Associates LLC Has $22.05 Million Stake in Axonics, Inc. (NASDAQ:AXNX)

Jennison Associates LLC increased its stake in shares of Axonics, Inc. (NASDAQ:AXNX) by 56.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,331 shares of the company’s stock after buying an additional 128,374 shares during the quarter. Jennison Associates LLC’s holdings in Axonics were worth $22,050,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Axonics by 763.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,134 shares of the company’s stock valued at $1,018,000 after purchasing an additional 16,034 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Axonics during the 3rd quarter worth $37,000. North Growth Management Ltd. acquired a new position in Axonics in the 3rd quarter worth about $1,437,000. Commonwealth Equity Services LLC acquired a new position in Axonics in the 3rd quarter worth about $230,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Axonics by 13.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,588 shares of the company’s stock valued at $594,000 after purchasing an additional 1,269 shares during the last quarter. Institutional investors own 99.48% of the company’s stock.

Insider Transactions at Axonics

In other Axonics news, EVP John Woock sold 15,899 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total transaction of $1,076,998.26. Following the transaction, the executive vice president now owns 77,403 shares in the company, valued at $5,243,279.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP John Woock sold 15,899 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $67.74, for a total value of $1,076,998.26. Following the completion of the sale, the executive vice president now owns 77,403 shares in the company, valued at approximately $5,243,279.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Raymond W. Cohen sold 35,161 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $67.74, for a total transaction of $2,381,806.14. Following the completion of the sale, the chief executive officer now directly owns 188,835 shares of the company’s stock, valued at $12,791,682.90. The disclosure for this sale can be found here. Insiders have sold 65,837 shares of company stock valued at $4,459,798 over the last ninety days. 1.85% of the stock is owned by company insiders.

Analyst Ratings Changes

AXNX has been the subject of several recent research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $71.00 price objective (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a research note on Wednesday, January 17th. Truist Financial reissued a “hold” rating and issued a $71.00 price objective (down previously from $73.00) on shares of Axonics in a research note on Friday, January 12th. Piper Sandler reaffirmed a “neutral” rating and set a $71.00 target price (down from $75.00) on shares of Axonics in a research report on Friday, January 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $71.00 price target on shares of Axonics in a research report on Thursday, February 29th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.73.

Axonics Trading Down 0.2 %

Shares of NASDAQ AXNX opened at $66.54 on Friday. The firm has a market capitalization of $3.39 billion, a P/E ratio of -511.85 and a beta of 0.56. The firm’s 50-day moving average price is $67.95 and its 200-day moving average price is $62.68. Axonics, Inc. has a 1-year low of $47.59 and a 1-year high of $69.68.

Axonics (NASDAQ:AXNX) last issued its earnings results on Wednesday, February 28th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $109.70 million during the quarter, compared to analyst estimates of $107.33 million. Axonics had a negative return on equity of 1.00% and a negative net margin of 1.66%. The firm’s revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 EPS. Equities research analysts forecast that Axonics, Inc. will post 0.32 EPS for the current year.

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.