Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Axonics, Inc. (NASDAQ:AXNX – Get Rating) by 313.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,420 shares of the company’s stock after purchasing an additional 26,859 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Axonics worth $2,495,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bellevue Group AG increased its position in shares of Axonics by 9.5% in the first quarter. Bellevue Group AG now owns 2,049,205 shares of the company’s stock worth $128,280,000 after acquiring an additional 177,191 shares in the last quarter. Invesco Ltd. increased its position in shares of Axonics by 8.6% in the first quarter. Invesco Ltd. now owns 1,171,343 shares of the company’s stock worth $73,326,000 after acquiring an additional 92,445 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Axonics by 0.5% in the second quarter. Macquarie Group Ltd. now owns 996,313 shares of the company’s stock worth $56,461,000 after acquiring an additional 5,308 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Axonics by 21.8% in the first quarter. Neuberger Berman Group LLC now owns 714,847 shares of the company’s stock worth $44,750,000 after acquiring an additional 128,172 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Axonics by 12.2% in the first quarter. Northern Trust Corp now owns 652,336 shares of the company’s stock worth $40,836,000 after acquiring an additional 70,875 shares in the last quarter. Institutional investors and hedge funds own 97.49% of the company’s stock.
Axonics Price Performance
NASDAQ AXNX opened at $57.48 on Friday. Axonics, Inc. has a 12 month low of $38.41 and a 12 month high of $79.92. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -34.84 and a beta of 0.40. The company’s fifty day moving average price is $61.19 and its two-hundred day moving average price is $66.65.
Insider Buying and Selling at Axonics
In other Axonics news, insider Alfred J. Ford, Jr. sold 36,015 shares of the stock in a transaction on Friday, January 13th. The shares were sold at an average price of $66.40, for a total transaction of $2,391,396.00. Following the transaction, the insider now directly owns 36,773 shares in the company, valued at approximately $2,441,727.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Esteban Lopez sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $67.42, for a total value of $134,840.00. Following the transaction, the director now directly owns 3,600 shares in the company, valued at approximately $242,712. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alfred J. Ford, Jr. sold 36,015 shares of the firm’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $66.40, for a total transaction of $2,391,396.00. Following the completion of the transaction, the insider now owns 36,773 shares in the company, valued at $2,441,727.20. The disclosure for this sale can be found here. Insiders have sold 169,610 shares of company stock worth $10,955,456 in the last ninety days. 2.31% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on AXNX. Wells Fargo & Company increased their price objective on shares of Axonics from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 1st. Royal Bank of Canada initiated coverage on shares of Axonics in a research note on Friday, October 21st. They issued an “outperform” rating and a $85.00 target price for the company. Truist Financial decreased their target price on shares of Axonics from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Tuesday, December 20th. TheStreet upgraded shares of Axonics from a “d+” rating to a “c” rating in a research note on Monday, October 31st. Finally, Morgan Stanley decreased their target price on shares of Axonics from $92.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.11.
Axonics Profile
Axonics, Inc is a medical device company, which engages in developing and commercializing of novel implantable sacral neuromodulation (SNM) devices to treat patients with bladder and bowel dysfunction. Its product Bulkamid, which is a urethral bulking agent used to treat stress urinary incontinence in women.
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