Axsome Therapeutics, Inc. $AXSM Shares Sold by Intech Investment Management LLC

Key Points

• Intech cut its stake by 30.1% in Q3 and now holds 16,049 shares (~$1.95M), while heavy insider selling occurred recently — the CEO sold 78,703 shares and a director sold 25,000, with insiders offloading 289,279 shares worth $49.5M last quarter.
• Analysts remain generally bullish with a consensus rating of "Moderate Buy" and a consensus target price of $216.12 (17 Buys vs. 2 Sells), and several firms have raised their price targets into the $220–$260 range.
• Axsome reported a Q4 loss of $0.56 EPS that beat estimates and revenue of $196M (up 65% YoY), but the company remains unprofitable (negative net margin ~28.7%) and analysts forecast a full-year EPS around -2.79.

Intech Investment Management LLC lowered its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 30.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,049 shares of the company's stock after selling 6,907 shares during the quarter. Intech Investment Management LLC's holdings in Axsome Therapeutics were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Axsome Therapeutics by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company's stock worth $2,557,000 after acquiring an additional 1,002 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Axsome Therapeutics by 2,407.9% during the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company's stock worth $889,000 after purchasing an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company's stock worth $35,189,000 after purchasing an additional 84,151 shares in the last quarter. Caxton Associates LLP bought a new stake in Axsome Therapeutics in the first quarter valued at about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Axsome Therapeutics by 29.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company's stock valued at $8,735,000 after buying an additional 17,250 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 25,000 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total value of $4,027,750.00. Following the sale, the director owned 47,140 shares of the company's stock, valued at approximately $7,594,725.40. The trade was a 34.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Herriot Tabuteau sold 78,703 shares of the company's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $171.28, for a total transaction of $13,480,249.84. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company's stock, valued at $1,238,183.12. The trade was a 91.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 289,279 shares of company stock worth $49,496,963 in the last quarter. Company insiders own 22.30% of the company's stock.

Analysts Set New Price Targets

AXSM has been the subject of several research reports. Oppenheimer reiterated an "outperform" rating and issued a $220.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. UBS Group lifted their price objective on shares of Axsome Therapeutics from $248.00 to $251.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. HC Wainwright lifted their price target on shares of Axsome Therapeutics from $200.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Finally, Piper Sandler raised their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an "overweight" rating in a report on Friday, January 16th. Seventeen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $216.12.

Axsome Therapeutics Stock Up 0.0%

AXSM stock opened at $164.08 on Thursday. The stock has a market cap of $8.39 billion, a PE ratio of -44.47 and a beta of 0.43. The firm's 50-day simple moving average is $176.42 and its 200 day simple moving average is $147.52. Axsome Therapeutics, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.14. The firm had revenue of $196.00 million during the quarter, compared to analysts' expectations of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business's revenue for the quarter was up 65.0% on a year-over-year basis. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Axsome Therapeutics Company Profile

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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