Axonics, Inc. (NASDAQ:AXNX) is Westchester Capital Management LLC’s 7th Largest Position

Westchester Capital Management LLC lifted its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,450,381 shares of the company’s stock after buying an additional 98,171 shares during the period. Axonics makes up about 4.3% of Westchester Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Westchester Capital Management LLC’s holdings in Axonics were worth $100,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Axonics during the second quarter worth $32,681,000. Alpine Associates Management Inc. lifted its position in shares of Axonics by 16.2% during the second quarter. Alpine Associates Management Inc. now owns 2,108,871 shares of the company’s stock worth $141,779,000 after purchasing an additional 294,100 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Axonics during the 2nd quarter worth approximately $15,080,000. Squarepoint Ops LLC lifted its stake in Axonics by 3,961.0% during the second quarter. Squarepoint Ops LLC now owns 190,500 shares of the company’s stock worth $12,807,000 after purchasing an additional 185,809 shares during the last quarter. Finally, P Schoenfeld Asset Management LP boosted its holdings in shares of Axonics by 65.6% in the 2nd quarter. P Schoenfeld Asset Management LP now owns 429,075 shares of the company’s stock valued at $28,847,000 after buying an additional 170,000 shares during the period. Institutional investors and hedge funds own 99.48% of the company’s stock.

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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Axonics has an average rating of “Hold” and an average price target of $71.00.

Insider Transactions at Axonics

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,801,526.42. The trade was a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.85% of the company’s stock.

Axonics Price Performance

AXNX stock opened at $70.98 on Friday. The company has a 50-day simple moving average of $70.25 and a 200 day simple moving average of $68.81. The company has a market capitalization of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82. Axonics, Inc. has a fifty-two week low of $55.09 and a fifty-two week high of $71.05.

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.