Axsome Therapeutics, Inc. $AXSM Shares Sold by Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. cut its Axsome Therapeutics stake by 14.6% in the fourth quarter, though it still held 278,835 shares worth about $50.9 million at quarter-end.
• Axsome reported Q1 revenue of $191.2 million, up 57.4% year over year and roughly in line with estimates, but earnings missed expectations with EPS of -$1.26 versus -$0.85 expected.
• Analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $251.26, even as insiders have been selling shares recently, including CEO Herriot Tabuteau’s large June sale.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,835 shares of the company's stock after selling 47,483 shares during the period. Axsome Therapeutics makes up approximately 4.5% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s investment portfolio, making the stock its 6th biggest position. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. owned 0.55% of Axsome Therapeutics worth $50,926,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AXSM. Optiver Holding B.V. raised its position in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company's stock valued at $35,000 after purchasing an additional 130 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in Axsome Therapeutics during the third quarter valued at approximately $38,000. Advisory Services Network LLC acquired a new position in Axsome Therapeutics during the third quarter valued at approximately $40,000. GAMMA Investing LLC raised its position in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company's stock valued at $49,000 after purchasing an additional 106 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock valued at $50,000 after purchasing an additional 235 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $246.34 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $256.00. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of -66.04 and a beta of 0.61. The company's fifty day moving average is $207.58 and its 200 day moving average is $180.70.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics's revenue for the quarter was up 57.4% compared to the same quarter last year. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $272.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Guggenheim upped their price target on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group upped their price target on shares of Axsome Therapeutics from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.26.

Insider Buying and Selling

In related news, CEO Herriot Tabuteau sold 49,670 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the sale, the chief executive officer owned 7,229 shares of the company's stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 233 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $228.18, for a total transaction of $53,165.94. Following the completion of the sale, the chief operating officer directly owned 4,517 shares in the company, valued at approximately $1,030,689.06. This represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,400 shares of company stock valued at $26,595,598 over the last quarter. 20.60% of the stock is currently owned by company insiders.

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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