Lisanti Capital Growth LLC Raises Position in Axonics, Inc. (NASDAQ:AXNX)

Lisanti Capital Growth LLC lifted its stake in Axonics, Inc. (NASDAQ:AXNX) by 41.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 106,950 shares of the company’s stock after purchasing an additional 31,400 shares during the quarter. Axonics comprises 1.6% of Lisanti Capital Growth LLC’s portfolio, making the stock its 14th biggest holding. Lisanti Capital Growth LLC’s holdings in Axonics were worth $6,655,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in Axonics during the 3rd quarter valued at $37,000. Commonwealth Equity Services LLC bought a new position in Axonics during the third quarter valued at $230,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Axonics by 13.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,588 shares of the company’s stock worth $594,000 after acquiring an additional 1,269 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Axonics in the 3rd quarter worth about $68,499,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Axonics by 2.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,846 shares of the company’s stock worth $1,226,000 after purchasing an additional 446 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

Analyst Upgrades and Downgrades

AXNX has been the topic of a number of recent analyst reports. CL King reissued a “neutral” rating on shares of Axonics in a research report on Friday, January 12th. Piper Sandler reissued a “neutral” rating and set a $71.00 price target (down from $75.00) on shares of Axonics in a research note on Friday, January 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $71.00 price objective on shares of Axonics in a research report on Thursday, February 29th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $71.00 target price (up previously from $68.00) on shares of Axonics in a research note on Wednesday, January 10th. Finally, Wolfe Research lowered shares of Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.73.

Axonics Trading Up 0.5 %

Shares of AXNX traded up $0.31 during mid-day trading on Monday, hitting $67.59. The company’s stock had a trading volume of 195,794 shares, compared to its average volume of 1,199,770. The company’s 50-day moving average is $67.80 and its 200-day moving average is $63.32. Axonics, Inc. has a 52-week low of $47.59 and a 52-week high of $69.68. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -210.09 and a beta of 0.60.

Axonics (NASDAQ:AXNX) last posted its earnings results on Tuesday, April 30th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The company had revenue of $91.41 million for the quarter, compared to analysts’ expectations of $89.79 million. During the same quarter in the prior year, the company earned ($0.19) EPS. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, sell-side analysts predict that Axonics, Inc. will post 0.27 earnings per share for the current fiscal year.

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.