A share of Axonics Inc. (NASDAQ:AXNX) closed at $59.85 per share on Thursday, down from $60.74 day before. While Axonics Inc. has underperformed by -1.47%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AXNX rose by 2.12%, with highs and lows ranging from $79.92 to $38.41, whereas the simple moving average fell by -5.37% in the last 200 days.
On October 21, 2022, RBC Capital Mkts started tracking Axonics Inc. (NASDAQ: AXNX) recommending Outperform. A report published by Jefferies on October 12, 2022, Initiated its previous ‘Hold’ rating for AXNX. Wolfe Research Initiated an Outperform rating on April 06, 2022, and assigned a price target of $69. BofA Securities initiated its ‘Buy’ rating for AXNX, as published in its report on March 02, 2022. Barclays’s report from July 12, 2021 suggests a price prediction of $74 for AXNX shares, giving the stock a ‘Overweight’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Axonics Inc. (AXNX)
Further, the quarter-over-quarter increase in sales is 50.10%, showing a positive trend in the upcoming months.
Axonics Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -15.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and AXNX is registering an average volume of 589.11K. On a monthly basis, the volatility of the stock is set at 4.76%, whereas on a weekly basis, it is put at 4.24%, with a loss of -2.73% over the past seven days. Furthermore, long-term investors anticipate a median target price of $90.67, showing growth from the present price of $59.85, which can serve as yet another indication of whether AXNX is worth investing in or should be passed over.
How Do You Analyze Axonics Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.70%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in AXNX shares?
The recent increase in stakes in AXNX appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in AXNX has increased by 33.06% in the first quarter. The company now owns 3,949,288 shares of the stock, with a value of $270.45 million, following the purchase of 981,339 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in AXNX during the first quarter, upping its stake by 2.06%. During the last quarter, the company dropped down 60,905 additional shares for a total stake of worth $206.83 million, bringing number of shares owned by the company to 3,020,315.
During the first quarter, Bellevue Asset Management AG subtracted a -120,652 position in AXNX. FIAM LLC purchased an additional 3150.0 shares in the last quarter, increasing its holdings by 0.17%, now holding 1.89 million shares worth $129.66 million. At the end of the first quarter, Lord, Abbett & Co. LLC increased its AXNX holdings by 48.47% and now holds 1.87 million AXNX shares valued at $128.19 million with the added 0.61 million shares during the period.