Axsome Therapeutics, Inc. $AXSM Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 20.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,000 shares of the company's stock after selling 12,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.10% of Axsome Therapeutics worth $5,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $25,000. NBC Securities Inc. acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $31,000. Quantbot Technologies LP acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $31,000. AlphaQuest LLC acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $38,000. Finally, Neo Ivy Capital Management acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $41,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Mark Coleman purchased 1,575 shares of the business's stock in a transaction dated Monday, September 8th. The stock was bought at an average cost of $127.28 per share, with a total value of $200,466.00. Following the completion of the acquisition, the director directly owned 48,212 shares in the company, valued at $6,136,423.36. The trade was a 3.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Jeffs sold 20,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $121.60, for a total value of $2,432,000.00. Following the transaction, the director directly owned 90,974 shares in the company, valued at approximately $11,062,438.40. This represents a 18.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,299 shares of company stock valued at $11,766,554. 22.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AXSM. Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 4th. Morgan Stanley began coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Royal Bank Of Canada boosted their target price on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Bank of America boosted their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $177.86.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $3.61 on Tuesday, reaching $125.68. The stock had a trading volume of 794,585 shares, compared to its average volume of 542,929. The firm has a market capitalization of $6.27 billion, a PE ratio of -24.79 and a beta of 0.54. 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 firm has a 50-day moving average of $111.18 and a 200 day moving average of $110.83. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The firm had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS 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.