Woodline Partners LP Decreases Holdings in Axsome Therapeutics, Inc. $AXSM

Key Points

• Woodline Partners LP reduced its stake in Axsome Therapeutics by 25.6%, selling 104,357 shares and retaining ownership of 0.62% of the company, valued at approximately $35.5 million.
• Institutional ownership in Axsome Therapeutics is substantial, with funds owning 81.49% of the stock, while corporate insiders possess 22.40%.
• Several analysts have upgraded Axsome Therapeutics to a "strong-buy" rating, with a consensus price target of $177.86.

Woodline Partners LP lessened its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,084 shares of the company's stock after selling 104,357 shares during the period. Woodline Partners LP owned about 0.62% of Axsome Therapeutics worth $35,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Axsome Therapeutics by 42.8% in the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock valued at $34,484,000 after acquiring an additional 88,606 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the first quarter worth about $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Axsome Therapeutics by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after purchasing an additional 9,928 shares during the last quarter. Trek Financial LLC bought a new stake in shares of Axsome Therapeutics during the first quarter worth about $3,446,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Axsome Therapeutics during the first quarter worth about $8,174,000. Institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Hunter R. Murdock sold 7,500 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total transaction of $751,950.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark E. Saad sold 9,127 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $125.07, for a total value of $1,141,513.89. Following the sale, the director directly owned 10,002 shares in the company, valued at $1,250,950.14. This trade represents a 47.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,299 shares of company stock worth $11,766,554 over the last 90 days. Company insiders own 22.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley assumed coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Wells Fargo & Company raised Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. Bank of America lifted their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $177.86.

Axsome Therapeutics Stock Down 0.7%

Axsome Therapeutics stock traded down $0.87 during trading on Monday, hitting $117.55. 163,971 shares of the company were exchanged, compared to its average volume of 755,024. The business's 50 day moving average is $112.20 and its 200 day moving average is $110.57. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13. The company has a market capitalization of $5.87 billion, a P/E ratio of -23.21 and a beta of 0.54. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The business had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.