Avidity Partners Management LP Sells 108,100 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Avidity Partners Management LP decreased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,000 shares of the company's stock after selling 108,100 shares during the quarter. Axsome Therapeutics makes up approximately 1.6% of Avidity Partners Management LP's holdings, making the stock its 27th biggest holding. Avidity Partners Management LP owned 0.39% of Axsome Therapeutics worth $15,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Boxer Capital Management LLC bought a new stake in Axsome Therapeutics in the fourth quarter valued at $39,767,000. Norges Bank bought a new stake in Axsome Therapeutics in the 4th quarter valued at about $34,100,000. BVF Inc. IL boosted its stake in Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after purchasing an additional 342,064 shares during the period. Principal Financial Group Inc. grew its position in Axsome Therapeutics by 6,002.7% in the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock worth $17,520,000 after purchasing an additional 203,672 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $14,771,000. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $170.33.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.40% of the company's stock.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded down $4.33 during trading on Tuesday, hitting $112.16. 716,105 shares of the company's stock were exchanged, compared to its average volume of 685,724. The company has a market cap of $5.52 billion, a PE ratio of -18.72 and a beta of 0.46. The stock's 50 day moving average price is $113.06 and its two-hundred day moving average price is $104.23. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Research analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.