Alps Advisors Inc. Has $3.78 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Alps Advisors Inc. decreased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,364 shares of the company's stock after selling 6,826 shares during the period. Alps Advisors Inc. owned 0.07% of Axsome Therapeutics worth $3,775,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AXSM. Trek Financial LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth approximately $3,446,000. Bank Hapoalim BM bought a new position in Axsome Therapeutics during the first quarter worth $204,000. Penserra Capital Management LLC acquired a new position in Axsome Therapeutics in the first quarter valued at about $2,229,000. GF Fund Management CO. LTD. increased its stake in shares of Axsome Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock valued at $145,000 after buying an additional 223 shares during the period. Finally, Moody Aldrich Partners LLC lifted its stake in shares of Axsome Therapeutics by 38.1% in the first quarter. Moody Aldrich Partners LLC now owns 62,339 shares of the company's stock valued at $7,271,000 after buying an additional 17,201 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer owned 5,783 shares of the company's stock, valued at $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction 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 completion of the sale, the director owned 50,387 shares in the company, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,437 shares of company stock valued at $9,834,215. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded down $2.21 during trading hours on Tuesday, reaching $110.12. The company's stock had a trading volume of 593,296 shares, compared to its average volume of 668,031. The stock has a market cap of $5.42 billion, a PE ratio of -19.08 and a beta of 0.46. The company's 50-day moving average is $106.51 and its two-hundred day moving average is $108.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03. Axsome Therapeutics, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $139.13.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXSM. Morgan Stanley began coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Needham & Company LLC reduced their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Jefferies Financial Group started coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 target price on the stock. Mizuho upped their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of "Buy" and an average price target of $172.33.

Axsome Therapeutics Company 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.