Ameriprise Financial Inc. Has $1.54 Million Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Ameriprise Financial Inc. reduced its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 90.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,238 shares of the company's stock after selling 179,697 shares during the quarter. Ameriprise Financial Inc.'s holdings in Axsome Therapeutics were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ally Bridge Group NY LLC purchased a new stake in Axsome Therapeutics in the 4th quarter valued at about $5,640,000. Boxer Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter worth approximately $39,767,000. Northern Trust Corp grew its holdings in Axsome Therapeutics by 21.0% in the fourth quarter. Northern Trust Corp now owns 402,500 shares of the company's stock valued at $34,056,000 after purchasing an additional 69,918 shares during the period. Tri Locum Partners LP grew its holdings in Axsome Therapeutics by 172.3% in the fourth quarter. Tri Locum Partners LP now owns 249,769 shares of the company's stock valued at $21,133,000 after purchasing an additional 158,048 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in Axsome Therapeutics during the fourth quarter worth approximately $76,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

AXSM stock traded down $1.97 during mid-day trading on Wednesday, reaching $108.14. 477,939 shares of the stock traded hands, compared to its average volume of 688,466. The firm has a market capitalization of $5.32 billion, a PE ratio of -18.05 and a beta of 0.46. The business has a 50-day moving average of $106.05 and a two-hundred day moving average of $106.35. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 20,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $103.45, for a total value of $2,069,000.00. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at $598,251.35. This represents a 77.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total transaction of $322,470.00. Following the completion of the sale, the director now owns 54,137 shares in the company, valued at $5,819,186.13. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,423 shares of company stock worth $4,950,619 over the last three months. 22.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AXSM shares. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 price objective for the company. Truist Financial lifted their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Oppenheimer initiated coverage on Axsome Therapeutics in a research report on Tuesday. They set an "outperform" rating and a $185.00 price target for the company. Leerink Partners raised their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $176.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $173.00.

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.