68,453 Shares in Axsome Therapeutics, Inc. $AXSM Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC bought a new position in Axsome Therapeutics during the first quarter, acquiring 68,453 shares valued at about $11.6 million. The stake represented roughly 0.13% of the company.
• Axsome recently reported quarterly results that missed earnings expectations, posting EPS of -$1.26 versus the expected -$0.85, though revenue of $191.2 million was roughly in line with estimates and up 57.4% year over year.
• Wall Street remains largely positive on the stock, with analysts issuing a Moderate Buy consensus and a price target of $261.48, while several insiders also sold shares in recent months.

Hsbc Holdings PLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 68,453 shares of the company's stock, valued at approximately $11,589,000. Hsbc Holdings PLC owned 0.13% of Axsome Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Birchview Capital LP lifted its holdings in Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company's stock worth $1,107,000 after purchasing an additional 61 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Axsome Therapeutics by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock worth $351,000 after buying an additional 65 shares in the last quarter. Xponance LLC raised its position in shares of Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company's stock worth $596,000 after buying an additional 76 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Axsome Therapeutics by 6.6% in the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company's stock worth $175,000 after acquiring an additional 89 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Axsome Therapeutics by 4.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,190 shares of the company's stock worth $400,000 after acquiring an additional 89 shares during the period. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $239.62 on Thursday. The stock's 50-day moving average price is $238.79 and its two-hundred day moving average price is $199.87. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The company has a market cap of $12.33 billion, a PE ratio of -64.24 and a beta of 0.60. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company's revenue for the quarter was up 57.4% compared to the same quarter last year. On average, analysts predict that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AXSM shares. TD Cowen increased their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 17th. Mizuho upped their target price on Axsome Therapeutics from $228.00 to $310.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Royal Bank Of Canada lifted their price target on Axsome Therapeutics from $302.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Finally, Guggenheim upped their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the company a "buy" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $261.48.

Insiders Place Their Bets

In related news, Director Susan Mahony sold 300 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the transaction, the director directly owned 1,129 shares of the company's stock, valued at approximately $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the sale, the director directly owned 58,653 shares of the company's stock, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 155,852 shares of company stock worth $37,230,112 in the last quarter. Corporate insiders own 20.60% of the company's stock.

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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