Algert Global LLC Invests $3.03 Million in Axsome Therapeutics, Inc. $AXSM

Key Points

• Algert Global LLC acquired 25,940 shares of Axsome Therapeutics, valued at approximately $3,025,000, increasing their ownership to about 0.05% of the company.
• Assenagon Asset Management significantly boosted its stake by 16,852.7%, resulting in ownership of 627,418 shares worth $73,176,000.
• A number of analysts have set optimistic price targets for Axsome Therapeutics, with estimates ranging up to $190.00, reflecting a consensus rating of "Buy."

Algert Global LLC purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,940 shares of the company's stock, valued at approximately $3,025,000. Algert Global LLC owned approximately 0.05% of Axsome Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Axsome Therapeutics by 74.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,129 shares of the company's stock worth $2,972,000 after purchasing an additional 15,047 shares during the period. Cerity Partners LLC boosted its stake in shares of Axsome Therapeutics by 32.0% in the 4th quarter. Cerity Partners LLC now owns 4,941 shares of the company's stock worth $419,000 after buying an additional 1,198 shares during the last quarter. Barclays PLC boosted its stake in shares of Axsome Therapeutics by 58.6% in the 4th quarter. Barclays PLC now owns 97,988 shares of the company's stock worth $8,291,000 after buying an additional 36,203 shares during the last quarter. Mariner LLC boosted its stake in shares of Axsome Therapeutics by 13.8% in the 4th quarter. Mariner LLC now owns 15,120 shares of the company's stock worth $1,279,000 after buying an additional 1,834 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $347,000. Institutional investors own 81.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AXSM shares. Oppenheimer initiated coverage on Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Needham & Company LLC reissued a "buy" rating and set a $150.00 price target on shares of Axsome Therapeutics in a report on Monday, August 4th. Bank of America raised their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley initiated coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $178.00.

Axsome Therapeutics Price Performance

AXSM stock traded down $2.0960 during mid-day trading on Monday, hitting $116.4140. The company had a trading volume of 165,356 shares, compared to its average volume of 768,616. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of -22.96 and a beta of 0.51. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average price of $106.36 and a 200 day moving average price of $111.17.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The company had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the transaction, the director directly owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the transaction, the chief operating officer directly owned 5,783 shares in the company, valued at approximately $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,437 shares of company stock worth $9,511,745. Company insiders own 22.30% of the company's stock.

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.