GAMMA Investing LLC Has $2.57 Million Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

GAMMA Investing LLC increased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 38,571.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,043 shares of the company's stock after buying an additional 21,986 shares during the quarter. GAMMA Investing LLC's holdings in Axsome Therapeutics were worth $2,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of Axsome Therapeutics by 46.5% during the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock worth $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $14,771,000. Charles Schwab Investment Management Inc. lifted its position in shares of Axsome Therapeutics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock worth $27,755,000 after buying an additional 5,438 shares during the period. Aigen Investment Management LP bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Axsome Therapeutics by 20.8% during the 4th 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 buying an additional 9,928 shares during the period. Institutional investors own 81.49% of the company's stock.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Coleman sold 3,750 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director now owns 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,423 shares of company stock valued at $7,711,619. 22.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Mizuho boosted their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Needham & Company LLC reduced their price objective on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, June 9th. HC Wainwright reissued a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Morgan Stanley boosted their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, Truist Financial boosted their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $172.33.

Axsome Therapeutics Trading Down 2.3%

NASDAQ:AXSM traded down $2.41 during mid-day trading on Monday, hitting $101.69. The company had a trading volume of 712,480 shares, compared to its average volume of 677,463. Axsome Therapeutics, Inc. has a fifty-two week low of $72.02 and a fifty-two week high of $139.13. The business's fifty day moving average is $106.53 and its two-hundred day moving average is $107.08. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm has a market cap of $5.01 billion, a P/E ratio of -16.98 and a beta of 0.47.

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.