Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Axonics Inc. shares valued at $315,000 were sold by Kiernan Jane E on Jul 05. At $60.00 per share, Kiernan Jane E sold 5,250 shares. The insider’s holdings dropped to 14,761 shares worth approximately $1.07 million following the completion of this transaction.
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Also, Kiernan Jane E sold 1,750 shares, netting a total of over 109,742 in proceeds. Following the sale of shares at $62.71 each, the insider now holds 20,011 shares.
Before that, COHEN RAYMOND W had sold 50,000 shares from its account. In a trade valued at $3,000,000, the Chief Executive Officer traded Axonics Inc. shares for $60.00 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $13.99 million.
As published in their initiating research note from Wolfe Research on April 06, 2022, Axonics Inc. [AXNX] has been an Outperform and the price target has been revised to $69. This represents a -4.74% premium over Thursday’s closing price. As of July 12, 2021, Barclays has initiated its “an Overweight” rating for AXNX. Earlier on June 28, 2021, Needham resumed its rating. Their recommendation was “a Buy” for AXNX stock.
Analyzing AXNX’s Price Performance
On Thursday, Axonics Inc. [NASDAQ: AXNX] rose 4.14% to $72.27. The stock’s lowest price that day was $67.88, but it reached a high of $72.38 in the same session. During the last five days, there has been a surge of approximately 10.78%. Over the course of the year, Axonics Inc. shares have jumped approximately 29.05%. Shares of the company reached a 52-week high of $72.38 on 08/04/22 and a 52-week low of $38.41 on 05/09/22. A 50-day SMA is recorded $58.36, while a 200-day SMA reached $57.05. Nevertheless, trading volume fell to 1.43 million shares from 1.86 million shares the previous day.
Support And Resistance Levels for Axonics Inc. (AXNX)
According to the 24-hour chart, there is a support level at 69.31, which, if violated, would cause prices to drop to 66.34. In the upper region, resistance lies at 73.81. The next price resistance is at 75.34. RSI (Relative Strength Index) is 69.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.69, which suggests the price will increase in the coming days. Percent R is at 0.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Axonics Inc. subject to short interest?
Stocks of Axonics Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.27 million shares to 4.2 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.47 million shares. A decline of -6.43% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.69 of the overall float, the days-to-cover ratio (short ratio) decline to 7.69.
Which companies own the most shares of Axonics Inc. (AXNX)?
According to BlackRock Fund Advisors filings, the company currently owns 2,913,351 shares, which is about 6.19% of the total AXNX shares outstanding. The investor’s shares have plunged by -30,832 from its previous 13-F filing of 2944183.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $152,940,883. Bellevue Asset Management AG acquire a 9.47% interest valued at $116.13 million while Credit Suisse Asset Management sold a -369,628 stake. A total of 193,015 shares of Axonics Inc. were sold by FIAM LLC during the quarter, and 1,191 were bought by AXA Investment Managers UK Ltd. In its current portfolio, RTW Investments LP holds 1,743,864 shares valued at $98.82 million.
In terms of Axonics Inc. share price expectations, FactSet research, analysts set an average price target of $80.75 in the next 12 months, up nearly 16.71% from the previous closing price of $69.40. Analysts anticipate Axonics Inc. stock to reach $87.00 by 2022, with the lowest price target being $70.00. In spite of this, 8 analysts ranked Axonics Inc. stock as a Buy at the end of 2022. On November 05, 2020, Needham assigned a price target of “a Buy” to the stock and reiterated coverage with a $62.