Axiom Investors LLC DE Purchases Shares of 26,307 Axsome Therapeutics, Inc. $AXSM

Key Points

• Axiom Investors LLC DE purchased 26,307 shares of Axsome Therapeutics, valued at approximately $3,068,000, representing a 0.05% ownership in the company.
• Insider trading includes Director Mark E. Saad selling 9,127 shares for about $1.14 million, reducing his stake by 47.71%.
• Analysts have a generally positive outlook on Axsome Therapeutics, with two "Strong Buy" ratings and an average price target of $177.86.

Axiom Investors LLC DE bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,307 shares of the company's stock, valued at approximately $3,068,000. Axiom Investors LLC DE owned about 0.05% of Axsome Therapeutics at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Axsome Therapeutics in the first quarter worth about $25,000. Quantbot Technologies LP bought a new position in shares of Axsome Therapeutics in the first quarter worth about $31,000. NBC Securities Inc. bought a new position in shares of Axsome Therapeutics in the first quarter worth about $31,000. AlphaQuest LLC bought a new position in shares of Axsome Therapeutics in the first quarter worth about $38,000. Finally, Neo Ivy Capital Management bought a new position in shares of Axsome Therapeutics in the first quarter worth about $41,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Down 3.7%

NASDAQ AXSM traded down $4.54 during trading on Friday, reaching $118.42. 700,686 shares of the stock traded hands, compared to its average volume of 758,448. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -23.36 and a beta of 0.54. The stock's 50-day moving average price is $111.93 and its 200 day moving average price is $110.87. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13.

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

Insider Activity

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark E. Saad sold 9,127 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the completion of the transaction, the director directly owned 10,002 shares in the company, valued at approximately $1,250,950.14. The trade was a 47.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,299 shares of company stock worth $11,766,554 in the last ninety days. Company insiders own 22.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Bank of America lifted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of "Buy" and a consensus price target of $177.86.

Axsome Therapeutics 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.