Fairmount Funds Management LLC Lowers Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Fairmount Funds Management LLC cut its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,468,983 shares of the company's stock after selling 891,094 shares during the quarter. Axsome Therapeutics accounts for 12.4% of Fairmount Funds Management LLC's investment portfolio, making the stock its biggest holding. Fairmount Funds Management LLC owned approximately 3.03% of Axsome Therapeutics worth $124,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXSM. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $52,000. R Squared Ltd acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $64,000. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth approximately $76,000. KBC Group NV grew its position in Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after acquiring an additional 385 shares in the last quarter. Finally, Xponance Inc. grew its position in Axsome Therapeutics by 11.6% in the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after acquiring an additional 277 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AXSM shares. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Robert W. Baird increased their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 target price on the stock. Bank of America raised their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $172.14.

Axsome Therapeutics Stock Performance

Shares of AXSM stock traded down $3.90 during trading hours on Tuesday, reaching $106.26. 302,302 shares of the company's stock were exchanged, compared to its average volume of 680,760. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The stock has a market capitalization of $5.23 billion, a P/E ratio of -17.74 and a beta of 0.46. The business has a fifty day moving average price of $111.71 and a 200-day moving average price of $104.84. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $118.77 million for the quarter, compared to analysts' expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Activity

In other news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly 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 document filed with the SEC, which is accessible through the SEC website. 22.30% of the stock is currently owned by company insiders.

Axsome Therapeutics 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.