Axsome Therapeutics, Inc. $AXSM Shares Sold by Tri Locum Partners LP

Key Points

• Tri Locum Partners cut its Axsome Therapeutics stake by 69.2% in the first quarter, selling 139,511 shares and retaining 62,116 shares valued at approximately $10.5 million. Institutional investors collectively own 81.49% of the company.
• Axsome reported quarterly revenue of $191.2 million, up 57.4% year over year, but its $1.26 loss per share missed analyst expectations of an $0.85 loss. Shares opened at $227.42, below their 52-week high of $260.19.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and a $261.48 price target. However, company insiders sold 155,852 shares worth roughly $37.2 million during the last quarter.

Tri Locum Partners LP lowered its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 69.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 62,116 shares of the company's stock after selling 139,511 shares during the period. Axsome Therapeutics accounts for approximately 1.5% of Tri Locum Partners LP's holdings, making the stock its 16th biggest holding. Tri Locum Partners LP owned 0.12% of Axsome Therapeutics worth $10,499,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AXSM. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter worth about $31,000. Hollencrest Capital Management raised its stake in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after buying an additional 160 shares in the last quarter. Ameriflex Group Inc. bought a new position in Axsome Therapeutics during the 4th quarter worth approximately $37,000. Advisory Services Network LLC acquired a new position in shares of Axsome Therapeutics in the 3rd quarter worth approximately $40,000. Finally, GAMMA Investing LLC increased its holdings in shares of Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company's stock valued at $49,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $227.42 on Thursday. The firm has a fifty day moving average of $239.55 and a 200-day moving average of $202.14. The company has a market cap of $11.70 billion, a price-to-earnings ratio of -60.97 and a beta of 0.60. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm's revenue was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXSM. Needham & Company LLC lifted their price objective 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. UBS Group raised their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Guggenheim lifted their price target on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a "buy" rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $290.00 target price on shares of Axsome Therapeutics in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $261.48.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,670 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nick Pizzie sold 33,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares in the company, valued at $10,291,938.03. The trade was a 43.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 155,852 shares of company stock worth $37,230,112 in the last quarter. 20.60% of the stock is currently owned by corporate 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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