Axsome Therapeutics, Inc. $AXSM Stock Holdings Decreased by Tri Locum Partners LP

Key Points

• Tri Locum Partners LP reduced its position in Axsome Therapeutics by 59.5% in the first quarter, now owning approximately $11.8 million worth of shares.
• Several hedge funds significantly increased their holdings in Axsome Therapeutics, including Assenagon Asset Management, which boosted its stake by 16,852.7%.
• Axsome Therapeutics reported a positive earnings surprise, with a quarterly EPS of ($0.92), beating expectations and generating $150.04 million in revenue.

Tri Locum Partners LP trimmed its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 59.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,240 shares of the company's stock after selling 148,529 shares during the period. Axsome Therapeutics comprises about 6.1% of Tri Locum Partners LP's portfolio, making the stock its 7th largest holding. Tri Locum Partners LP owned approximately 0.21% of Axsome Therapeutics worth $11,808,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Axsome Therapeutics by 42.8% in the 1st quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock worth $34,484,000 after buying an additional 88,606 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after buying an additional 9,928 shares during the last quarter. Trek Financial LLC acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $3,446,000. Finally, Edgestream Partners L.P. acquired a new stake in Axsome Therapeutics in the 1st quarter worth about $8,174,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 20,000 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the transaction, the director directly owned 90,974 shares in the company, valued at $11,062,438.40. This represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total value of $751,950.00. The disclosure for this sale can be found here. Insiders have sold 102,708 shares of company stock worth $11,720,812 over the last ninety days. Corporate insiders own 22.40% of the company's stock.

Axsome Therapeutics Trading Down 0.4%

AXSM traded down $0.47 during trading hours on Monday, reaching $121.28. The company's stock had a trading volume of 351,676 shares, compared to its average volume of 562,275. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13. The stock has a market cap of $6.05 billion, a PE ratio of -23.92 and a beta of 0.54. The business's 50-day moving average is $108.21 and its 200-day moving average is $110.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. HC Wainwright restated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Royal Bank Of Canada boosted their target price on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley assumed coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Finally, Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of "Buy" and an average price target of $178.00.

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.