GAMMA Investing LLC Purchases 21,986 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

GAMMA Investing LLC increased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 38,571.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,043 shares of the company's stock after acquiring an additional 21,986 shares during the quarter. GAMMA Investing LLC's holdings in Axsome Therapeutics were worth $2,571,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AXSM. Pitcairn Co. grew its holdings in shares of Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after buying an additional 148 shares during the period. Meridian Wealth Management LLC lifted its holdings in Axsome Therapeutics by 0.7% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after acquiring an additional 150 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after acquiring an additional 162 shares during the period. Arizona State Retirement System increased its holdings in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after acquiring an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its holdings in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. Robert W. Baird lifted their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Royal Bank of Canada decreased their price objective on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a report on Thursday. Truist Financial lifted their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has an average rating of "Buy" and an average price target of $172.33.

Axsome Therapeutics Stock Performance

AXSM traded down $2.15 during trading on Friday, hitting $104.10. The stock had a trading volume of 425,883 shares, compared to its average volume of 676,717. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The company has a 50 day moving average price of $106.32 and a 200-day moving average price of $106.90. Axsome Therapeutics, Inc. has a one year low of $70.52 and a one year high of $139.13. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of -17.38 and a beta of 0.47.

Insider Activity

In other Axsome Therapeutics news, Director Mark Coleman sold 3,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.49, for a total value of $322,470.00. Following the completion of the sale, the director now owns 54,137 shares of the company's stock, valued at $5,819,186.13. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $103.45, for a total transaction of $2,069,000.00. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $598,251.35. This represents a 77.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,423 shares of company stock valued at $7,711,619. 22.30% of the stock is owned by company insiders.

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.