Voya Investment Management LLC Sells 3,742 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Voya Investment Management LLC reduced its stake in Axsome Therapeutics by 3.6%, now owning 99,000 shares valued at approximately $11.5 million.
• Several hedge funds have adjusted their positions in Axsome, with notable increases including GF Fund Management raising its stake by 21.9%.
• Insider sales have occurred recently, with Director Roger Jeffs selling 20,000 shares and CEO Herriot Tabuteau selling 27,907 shares, indicating significant reductions in their respective holdings.

Voya Investment Management LLC reduced its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 99,000 shares of the company's stock after selling 3,742 shares during the quarter. Voya Investment Management LLC owned approximately 0.20% of Axsome Therapeutics worth $11,546,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock valued at $4,621,000 after purchasing an additional 136 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $25,000. GF Fund Management CO. LTD. boosted its stake in shares of Axsome Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock valued at $145,000 after purchasing an additional 223 shares during the last quarter. Xponance Inc. boosted its stake in shares of Axsome Therapeutics by 8.7% in the 1st quarter. Xponance Inc. now owns 2,891 shares of the company's stock valued at $337,000 after purchasing an additional 232 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its stake in shares of Axsome Therapeutics by 5.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company's stock valued at $606,000 after purchasing an additional 250 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXSM. Needham & Company LLC reissued a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 4th. Royal Bank Of Canada increased their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, HC Wainwright reissued a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of "Buy" and an average target price of $177.86.

Axsome Therapeutics Stock Performance

Shares of AXSM traded down $2.52 during trading hours on Friday, hitting $116.11. The company's stock had a trading volume of 285,586 shares, compared to its average volume of 751,592. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -22.89 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The business has a 50 day simple moving average of $112.74 and a two-hundred day simple moving average of $110.51. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The company had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman purchased 1,575 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average cost of $127.28 per share, for a total transaction of $200,466.00. Following the acquisition, the director directly owned 48,212 shares of the company's stock, valued at $6,136,423.36. This represents a 3.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 45,783 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The disclosure for this sale can be found here. Insiders sold a total of 193,962 shares of company stock worth $22,849,208 over the last ninety days. Insiders own 22.30% of the company's stock.

About Axsome Therapeutics

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.