Bellevue Group AG trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 67.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,930 shares of the company's stock after selling 248,251 shares during the quarter. Bellevue Group AG owned about 0.25% of Axsome Therapeutics worth $10,063,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Boxer Capital Management LLC bought a new position in Axsome Therapeutics in the fourth quarter valued at approximately $39,767,000. Norges Bank acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $34,100,000. Principal Financial Group Inc. boosted its holdings in shares of Axsome Therapeutics by 6,002.7% during the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock worth $17,520,000 after buying an additional 203,672 shares during the period. Raymond James Financial Inc. acquired a new position in Axsome Therapeutics in the 4th quarter valued at about $14,771,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Axsome Therapeutics by 1,251.9% during the fourth quarter. BNP Paribas Financial Markets now owns 185,661 shares of the company's stock worth $15,709,000 after purchasing an additional 171,928 shares during the period. Institutional investors own 81.49% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on AXSM. Wells Fargo & Company restated 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. Leerink Partners increased their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Needham & Company LLC restated a "buy" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $170.33.
Get Our Latest Research Report on AXSM
Insiders Place Their Bets
In other news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction 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 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. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 22.40% of the company's stock.
Axsome Therapeutics Trading Down 3.7 %
Shares of NASDAQ AXSM traded down $4.33 during midday trading on Tuesday, reaching $112.16. The stock had a trading volume of 716,105 shares, compared to its average volume of 685,724. The company's 50 day moving average price is $113.06 and its 200 day moving average price is $104.23. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of -18.72 and a beta of 0.46.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.
About Axsome Therapeutics
(
Free Report)
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.
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