Assenagon Asset Management S.A. Grows Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Key Points

• Assenagon Asset Management increased its Axsome Therapeutics stake by 85% in Q1, adding nearly 398,000 shares to reach 865,958 shares valued at about $146.4 million.
• Analysts remain mostly positive on AXSM, with a Moderate Buy consensus and an average price target of $258.95, though Weiss Ratings reiterated a sell rating.
• Axsome reported Q1 revenue of $191.2 million, up 57.4% year over year, but missed EPS expectations with a loss of $1.26 per share; several insiders also sold shares during the quarter.

Assenagon Asset Management S.A. grew its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 85.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 865,958 shares of the company's stock after acquiring an additional 397,976 shares during the period. Assenagon Asset Management S.A. owned about 1.69% of Axsome Therapeutics worth $146,364,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Birch Financial Group LLC raised its position in Axsome Therapeutics by 206.3% during the 1st quarter. Birch Financial Group LLC now owns 3,360 shares of the company's stock valued at $568,000 after purchasing an additional 2,263 shares during the last quarter. Values First Advisors Inc. grew its position in shares of Axsome Therapeutics by 4.2% in the 1st quarter. Values First Advisors Inc. now owns 4,587 shares of the company's stock worth $775,000 after buying an additional 185 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Axsome Therapeutics by 29.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,453 shares of the company's stock worth $1,361,000 after buying an additional 1,716 shares during the last quarter. SHP Wealth Management purchased a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $172,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $76,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AXSM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Jefferies Financial Group restated a "buy" rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a report on Thursday, June 11th. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Royal Bank Of Canada lifted their target price on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Finally, Needham & Company LLC increased their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $258.95.

Axsome Therapeutics Price Performance

AXSM stock opened at $237.92 on Thursday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The firm has a 50 day moving average price of $222.98 and a 200-day moving average price of $187.76. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of -63.79 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company had revenue of $191.20 million during the quarter, compared to analysts' expectations of $191.10 million. The business's quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ari Maizel sold 7,500 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider owned 7,500 shares in the company, valued at $1,368,150. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the sale, the director directly owned 35,140 shares in the company, valued at $8,092,742. This trade represents a 14.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,686 shares of company stock worth $26,666,006 over the last quarter. 20.60% of the stock is owned by insiders.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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