Axsome Therapeutics, Inc. $AXSM Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 11.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,663 shares of the company's stock after purchasing an additional 4,531 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Axsome Therapeutics worth $11,176,933 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AXSM. Hollencrest Capital Management lifted its position in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after acquiring an additional 160 shares in the last quarter. Silvant Capital Management LLC bought a new position in shares of Axsome Therapeutics during the second quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at approximately $76,000. Global Retirement Partners LLC boosted its position in shares of Axsome Therapeutics by 405.9% during the 4th quarter. Global Retirement Partners LLC now owns 430 shares of the company's stock valued at $79,000 after purchasing an additional 345 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Axsome Therapeutics by 14.9% during the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company's stock worth $85,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Down 4.2%

Axsome Therapeutics stock traded down $9.10 during trading hours on Tuesday, hitting $207.48. 280,473 shares of the stock traded hands, compared to its average volume of 746,061. The firm's 50-day moving average price is $220.13 and its two-hundred day moving average price is $209.01. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The company has a market cap of $10.87 billion, a PE ratio of -55.36 and a beta of 0.71. Axsome Therapeutics, Inc. has a one year low of $112.90 and a one year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million for the quarter, compared to analysts' expectations of $221.11 million. On average, research analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Guggenheim raised their price target on Axsome Therapeutics from $260.00 to $275.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. HC Wainwright restated a "buy" rating and set a $290.00 target price on shares of Axsome Therapeutics in a report on Monday, August 31st. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $380.00 target price on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $267.60.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total value of $2,086,500.00. Following the sale, the chief operating officer directly owned 10,000 shares in the company, valued at $2,086,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 4,660 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at $1,546,644.55. The trade was a 39.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,330 shares of company stock valued at $24,557,062 over the last ninety days. 20.60% of the stock is owned by corporate insiders.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company's research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer's disease, and other neurological or psychiatric disorders.

Axsome's commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.

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