Axonics Modulation Technologies Inc (NASDAQ:AXNX) Short Interest Update

Axonics Modulation Technologies Inc (NASDAQ:AXNX) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 5,340,000 shares, a growth of 11.9% from the December 15th total of 4,770,000 shares. Approximately 35.4% of the company’s stock are short sold. Based on an average daily trading volume, of 657,100 shares, the days-to-cover ratio is presently 8.1 days.

In other news, COO Rinda Sama sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $27.42, for a total value of $137,100.00. Following the sale, the chief operating officer now directly owns 200,627 shares of the company’s stock, valued at approximately $5,501,192.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raphael Wisniewski sold 300,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $20.74, for a total transaction of $6,222,000.00. The disclosure for this sale can be found here. Insiders sold a total of 795,000 shares of company stock worth $16,784,200 over the last ninety days. Insiders own 35.99% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY purchased a new position in Axonics Modulation Technologies in the third quarter valued at about $145,000. Millennium Management LLC boosted its holdings in Axonics Modulation Technologies by 2,133.7% in the third quarter. Millennium Management LLC now owns 252,540 shares of the company’s stock valued at $6,798,000 after acquiring an additional 241,234 shares during the last quarter. Partner Investment Management L.P. acquired a new position in Axonics Modulation Technologies in the third quarter valued at $52,000. Squarepoint Ops LLC acquired a new position in Axonics Modulation Technologies in the third quarter valued at $610,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Axonics Modulation Technologies during the third quarter worth about $304,000. 33.99% of the stock is owned by hedge funds and other institutional investors.

AXNX has been the topic of a number of analyst reports. ValuEngine cut shares of Axonics Modulation Technologies from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Piper Jaffray Companies initiated coverage on shares of Axonics Modulation Technologies in a research note on Friday, November 1st. They issued an “overweight” rating and a $39.00 price target on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Axonics Modulation Technologies in a research note on Friday, December 6th. SunTrust Banks initiated coverage on shares of Axonics Modulation Technologies in a research note on Tuesday, January 7th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Axonics Modulation Technologies in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.78.

AXNX traded up $0.09 during midday trading on Thursday, hitting $31.04. 7,096 shares of the company traded hands, compared to its average volume of 800,924. The company has a quick ratio of 6.76, a current ratio of 7.58 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $884.40 million, a PE ratio of -6.68 and a beta of -1.69. The company’s 50-day moving average is $26.75 and its 200 day moving average is $29.60. Axonics Modulation Technologies has a 52 week low of $14.00 and a 52 week high of $43.37.

Axonics Modulation Technologies (NASDAQ:AXNX) last posted its earnings results on Thursday, November 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by ($0.14). The company had revenue of $1.31 million for the quarter, compared to the consensus estimate of $1.45 million. Axonics Modulation Technologies had a negative net margin of 1,530.43% and a negative return on equity of 55.57%. The business’s quarterly revenue was up 555.0% on a year-over-year basis. On average, sell-side analysts predict that Axonics Modulation Technologies will post -2.73 earnings per share for the current fiscal year.

Axonics Modulation Technologies Company Profile

Axonics Modulation Technologies, Inc, a medical technology company, focuses on the design, development, and commercialization of sacral neuromodulation solutions (SNM) solutions. The SNM therapy is primarily used to treat patients with overactive bladder, including urinary urgency incontinence and urinary urgency frequency, fecal incontinence, and urinary retention.

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