Investors Purchase Large Volume of Put Options on Axonics Modulation Technologies (NASDAQ:AXNX)

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Axonics Modulation Technologies Inc (NASDAQ:AXNX) was the target of unusually large options trading on Monday. Stock investors bought 1,017 put options on the company. This represents an increase of approximately 1,238% compared to the typical volume of 76 put options.

AXNX has been the subject of a number of analyst reports. ValuEngine cut Axonics Modulation Technologies from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Co restated a “buy” rating on shares of Axonics Modulation Technologies in a research report on Friday, December 6th. Zacks Investment Research cut Axonics Modulation Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Axonics Modulation Technologies in a research report on Tuesday, November 5th. Finally, SunTrust Banks started coverage on Axonics Modulation Technologies in a research note on Tuesday, January 7th. They issued a “buy” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Axonics Modulation Technologies currently has an average rating of “Buy” and an average target price of $40.78.

In other Axonics Modulation Technologies news, major shareholder Andera Partners sold 300,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $20.74, for a total value of $6,222,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rinda Sama sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $27.42, for a total value of $137,100.00. Following the completion of the sale, the chief operating officer now owns 200,627 shares of the company’s stock, valued at approximately $5,501,192.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 795,000 shares of company stock valued at $16,784,200. Company insiders own 35.99% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Partner Investment Management L.P. bought a new position in Axonics Modulation Technologies during the third quarter valued at approximately $52,000. Bank of Montreal Can boosted its stake in Axonics Modulation Technologies by 963.7% during the second quarter. Bank of Montreal Can now owns 1,436 shares of the company’s stock valued at $58,000 after buying an additional 1,301 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Axonics Modulation Technologies by 84.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,300 shares of the company’s stock valued at $94,000 after buying an additional 1,050 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in Axonics Modulation Technologies during the third quarter valued at approximately $145,000. Finally, California Public Employees Retirement System bought a new position in Axonics Modulation Technologies during the third quarter valued at approximately $201,000. 33.99% of the stock is owned by institutional investors.

NASDAQ AXNX opened at $30.39 on Tuesday. The firm has a market cap of $926.16 million, a price-to-earnings ratio of -6.55 and a beta of -1.69. 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 business has a 50-day moving average price of $26.46 and a 200-day moving average price of $29.67. Axonics Modulation Technologies has a twelve month low of $14.00 and a twelve month high of $43.37.

Axonics Modulation Technologies (NASDAQ:AXNX) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.14). Axonics Modulation Technologies had a negative return on equity of 55.57% and a negative net margin of 1,530.43%. The business had revenue of $1.31 million during the quarter, compared to the consensus estimate of $1.45 million. The firm’s revenue for the quarter was up 555.0% compared to the same quarter last year. Research analysts expect that Axonics Modulation Technologies will post -2.78 EPS 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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