Lisanti Capital Growth LLC Boosts Stock Holdings in Axonics, Inc. (NASDAQ:AXNX)

Lisanti Capital Growth LLC lifted its holdings in shares of Axonics, Inc. (NASDAQ:AXNX) by 41.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,950 shares of the company’s stock after buying an additional 31,400 shares during the quarter. Axonics comprises 1.6% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 14th biggest position. Lisanti Capital Growth LLC owned about 0.21% of Axonics worth $6,655,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Axonics in a report on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $71.00 price objective on shares of Axonics in a research note on Thursday, February 29th. Wolfe Research lowered Axonics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 9th. CL King reaffirmed a “neutral” rating on shares of Axonics in a report on Friday, January 12th. Finally, SVB Leerink restated a “market perform” rating and issued a $71.00 price objective on shares of Axonics in a research report on Friday, January 12th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Axonics currently has a consensus rating of “Hold” and a consensus target price of $70.73.

Axonics Stock Performance

AXNX stock traded up $0.31 during trading on Monday, hitting $67.59. 195,794 shares of the company traded hands, compared to its average volume of 1,199,770. The company has a 50-day moving average of $67.80 and a 200-day moving average of $63.32. The firm has a market capitalization of $3.45 billion, a PE ratio of -210.09 and a beta of 0.60. 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 Tuesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The firm had revenue of $91.41 million during the quarter, compared to the consensus estimate of $89.79 million. Axonics had a negative return on equity of 2.58% and a negative net margin of 4.12%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.19) EPS. Sell-side analysts expect that Axonics, Inc. will post 0.27 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.