Jump Financial LLC Buys Shares of 92,640 Axsome Therapeutics, Inc. $AXSM

Key Points

• Jump Financial LLC acquired 92,640 shares of Axsome Therapeutics, Inc. for approximately $10.8 million, representing 0.19% of the company.
• Axsome Therapeutics reported a loss of $0.92 per share, exceeding analyst expectations, with revenues reaching $150.04 million for the quarter.
• The stock has a consensus Buy rating from analysts with a price target averaging $178.00.

Jump Financial LLC bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 92,640 shares of the company's stock, valued at approximately $10,805,000. Jump Financial LLC owned 0.19% of Axsome Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics in the 1st quarter valued at $25,000. Quantbot Technologies LP purchased a new stake in Axsome Therapeutics in the 1st quarter valued at $31,000. NBC Securities Inc. purchased a new stake in Axsome Therapeutics in the 1st quarter valued at $31,000. AlphaQuest LLC purchased a new stake in Axsome Therapeutics in the 1st quarter valued at $38,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics in the 1st quarter valued at $41,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In related news, Director Roger Jeffs sold 20,000 shares of the stock in a transaction 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 completion of the sale, the director owned 130,974 shares in the company, valued at $15,720,809.22. This represents a 13.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total transaction of $751,950.00. The disclosure for this sale can be found here. Insiders sold 82,708 shares of company stock valued at $9,288,812 over the last three months. 22.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on AXSM shares. HC Wainwright restated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Morgan Stanley began coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Robert W. Baird increased their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, Bank of America raised their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $178.00.

Axsome Therapeutics Stock Down 0.1%

AXSM stock traded down $0.11 during trading on Thursday, hitting $121.75. 365,530 shares of the company's stock were exchanged, compared to its average volume of 767,341. The business has a 50-day moving average price of $107.42 and a two-hundred day moving average price of $111.39. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -24.01 and a beta of 0.51. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million during the quarter, compared to the consensus estimate 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, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Axsome Therapeutics 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.