Axiom Investors LLC DE Makes New Investment in Axsome Therapeutics, Inc. $AXSM

Key Points

• Axiom Investors LLC DE has acquired 26,307 shares of Axsome Therapeutics, Inc. valued at approximately $3.07 million, representing about 0.05% of the company's total stock.
• Several institutional investors, including First Trust Advisors and Voya Investment Management, have significantly increased their stakes in Axsome Therapeutics during the fourth quarter.
• Axsome Therapeutics reported a loss of $0.92 per share for the latest quarter, surpassing analyst expectations, with a revenue of $150.04 million, exceeding the consensus estimate.

Axiom Investors LLC DE acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,307 shares of the company's stock, valued at approximately $3,068,000. Axiom Investors LLC DE owned 0.05% of Axsome Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Axsome Therapeutics in the first quarter valued at about $10,805,000. AlphaQuest LLC acquired a new stake in Axsome Therapeutics in the first quarter valued at about $38,000. 1832 Asset Management L.P. acquired a new stake in Axsome Therapeutics in the first quarter valued at about $42,360,000. Atika Capital Management LLC lifted its position in Axsome Therapeutics by 235.0% in the first quarter. Atika Capital Management LLC now owns 73,700 shares of the company's stock valued at $8,596,000 after purchasing an additional 51,700 shares during the period. Finally, Candriam S.C.A. acquired a new stake in Axsome Therapeutics in the first quarter valued at about $9,322,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $120.03, for a total transaction of $2,400,600.00. Following the transaction, the director owned 130,974 shares of the company's stock, valued at approximately $15,720,809.22. This represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The disclosure for this sale can be found here. Insiders have sold a total of 82,708 shares of company stock valued at $9,288,812 over the last quarter. Insiders own 22.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price target for the company. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $178.00.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM traded down $0.11 during trading on Thursday, reaching $121.75. The company had a trading volume of 369,674 shares, compared to its average volume of 767,497. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The stock has a 50-day moving average price of $107.42 and a two-hundred day moving average price of $111.39. The stock has a market capitalization of $6.08 billion, a PE ratio of -24.01 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.