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

California State Teachers Retirement System raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 27,073.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,176,933 shares of the company's stock after buying an additional 11,135,801 shares during the quarter. California State Teachers Retirement System owned approximately 21.34% of Axsome Therapeutics worth $2,735,778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $759,695,000. Wellington Management Group LLP grew its holdings in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after purchasing an additional 609,516 shares during the period. First Trust Advisors LP increased its position in Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company's stock worth $97,606,000 after purchasing an additional 534,066 shares during the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics during the fourth quarter worth about $90,490,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock worth $275,763,000 after purchasing an additional 472,422 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXSM has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their target price on shares of Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They set an "outperform" rating and a $310.00 price target for the company. Morgan Stanley lifted their price target on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Needham & Company LLC upped their price objective on Axsome Therapeutics from $267.00 to $268.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Truist Financial upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.60.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics 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 completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,546,644.55. This trade represents a 39.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares of the company's stock, valued at $2,086,500. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 109,330 shares of company stock worth $24,557,062. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Trading Up 0.2%

Shares of NASDAQ AXSM opened at $211.12 on Friday. 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 stock has a market capitalization of $11.06 billion, a PE ratio of -56.30 and a beta of 0.71. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The stock has a fifty day simple moving average of $221.12 and a 200-day simple moving average of $208.36.

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

Axsome Therapeutics 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.

Want to see what other hedge funds are holding AXSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.