Cubist Systematic Strategies LLC Invests $9.89 Million in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Cubist Systematic Strategies LLC bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 116,937 shares of the company's stock, valued at approximately $9,894,000. Cubist Systematic Strategies LLC owned approximately 0.24% of Axsome Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Pitcairn Co. boosted its holdings in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after purchasing an additional 148 shares during the last quarter. Meridian Wealth Management LLC grew its stake in shares of Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after acquiring an additional 162 shares in the last quarter. Arizona State Retirement System increased its stake in Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after acquiring an additional 164 shares during the last quarter. Finally, Intrust Bank NA raised its position in Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after purchasing an additional 183 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Down 2.9%

Shares of AXSM stock traded down $3.21 during mid-day trading on Tuesday, hitting $106.95. 241,391 shares of the stock traded hands, compared to its average volume of 873,730. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The stock has a market cap of $5.27 billion, a P/E ratio of -17.85 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock's fifty day moving average is $111.71 and its two-hundred day moving average is $104.84.

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

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

AXSM has been the topic of several analyst reports. William Blair reissued an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a "buy" rating and a $176.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $172.14.

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.