20,091 Shares in Axsome Therapeutics, Inc. $AXSM Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group initiated a position in Axsome Therapeutics by purchasing 20,091 shares valued at approximately $4.9 million. Institutional investors collectively own 81.49% of the company.
• Axsome reported a quarterly loss of $0.99 per share, missing estimates by $0.10, while revenue of $218.38 million was slightly below forecasts. Insiders sold $42.7 million of shares over the past three months, primarily to cover tax obligations on vested equity awards.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $267.60, compared with the stock’s reported opening price of $202.83.

Alyeska Investment Group L.P. purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,091 shares of the company's stock, valued at approximately $4,918,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter worth $31,000. Hollencrest Capital Management grew its position in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after buying an additional 160 shares during the period. Ameriflex Group Inc. bought a new position in Axsome Therapeutics during the fourth quarter valued at about $37,000. Advisory Services Network LLC purchased a new stake in Axsome Therapeutics during the third quarter worth about $40,000. Finally, Farther Finance Advisors LLC increased its holdings in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock worth $50,000 after buying an additional 235 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Susan Mahony sold 300 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director owned 1,129 shares in the company, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director owned 30,389 shares in the company, valued at $7,566,861. The trade was a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 183,229 shares of company stock valued at $42,666,176 over the last three months. Corporate insiders own 20.60% of the company's stock.

Axsome Therapeutics Price Performance

AXSM stock opened at $202.83 on Wednesday. The firm has a 50 day moving average of $225.66 and a 200-day moving average of $207.10. The firm has a market capitalization of $10.62 billion, a P/E ratio of -54.09 and a beta of 0.65. Axsome Therapeutics, Inc. has a 12 month low of $112.90 and a 12 month high of $260.19. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AXSM. Truist Financial upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Monday, June 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada lowered their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Zacks Research upgraded Axsome Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $267.60.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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