Assenagon Asset Management S.A. Has $73.18 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Assenagon Asset Management S.A. grew its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 16,852.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 627,418 shares of the company's stock after purchasing an additional 623,717 shares during the quarter. Assenagon Asset Management S.A. owned about 1.29% of Axsome Therapeutics worth $73,176,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Pitcairn Co. increased its position in shares of Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after buying an additional 148 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock valued at $1,791,000 after buying an additional 150 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Axsome Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after buying an additional 162 shares in the last quarter. Arizona State Retirement System increased its position in shares of Axsome Therapeutics by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock valued at $766,000 after buying an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its position in shares of Axsome Therapeutics by 6.9% in the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded down $2.15 during mid-day trading on Friday, hitting $104.10. The stock had a trading volume of 425,883 shares, compared to its average volume of 677,321. Axsome Therapeutics, Inc. has a twelve month low of $72.02 and a twelve month high of $139.13. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of -17.38 and a beta of 0.47. The company's 50 day simple moving average is $106.45 and its 200 day simple moving average is $107.05. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 20,673 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $104.66, for a total transaction of $2,163,636.18. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $605,248.78. This trade represents a 78.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark Coleman sold 3,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 54,137 shares of the company's stock, valued at $5,819,186.13. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,423 shares of company stock worth $7,711,619 over the last three months. Insiders own 22.30% of the company's stock.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Robert W. Baird increased their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Needham & Company LLC lowered their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a report on Monday, June 9th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Finally, HC Wainwright reiterated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.