Price T Rowe Associates Inc. MD Increases Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Price T Rowe Associates Inc. MD raised its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,228 shares of the company's stock after buying an additional 3,366 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.06% of Axsome Therapeutics worth $2,643,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AXSM. Pitcairn Co. raised its stake in Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after acquiring an additional 148 shares during the period. Meridian Wealth Management LLC raised its position in shares of Axsome Therapeutics by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock valued at $1,791,000 after purchasing an additional 150 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after purchasing an additional 162 shares during the period. Arizona State Retirement System lifted its stake in shares of Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock valued at $766,000 after buying an additional 164 shares in the last quarter. Finally, Intrust Bank NA grew its stake in Axsome Therapeutics by 6.9% in the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Shares of AXSM stock traded down $1.23 during trading hours on Monday, hitting $106.53. 94,809 shares of the company's stock were exchanged, compared to its average volume of 680,481. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a market capitalization of $5.25 billion, a PE ratio of -17.75 and a beta of 0.46. The business's 50 day simple moving average is $112.01 and its 200-day simple moving average is $104.70. 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 (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AXSM shares. Truist Financial increased their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $176.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. HC Wainwright lowered their price target on shares of Axsome Therapeutics from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $172.14.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics 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 value of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 22.30% of the stock is currently owned by company insiders.

About Axsome Therapeutics

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.