Nuveen Asset Management LLC Increases Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Nuveen Asset Management LLC lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 118.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,202 shares of the company's stock after buying an additional 119,780 shares during the quarter. Nuveen Asset Management LLC owned about 0.46% of Axsome Therapeutics worth $18,716,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $64,000. Aquatic Capital Management LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $76,000. KBC Group NV increased its holdings in shares of Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after acquiring an additional 385 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AXSM shares. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Mizuho lifted their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. HC Wainwright reaffirmed a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Thursday, May 22nd. Finally, Morgan Stanley boosted their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of "Buy" and an average price target of $172.14.

Insiders Place Their Bets

In other news, Director Mark Coleman sold 3,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.49, for a total transaction of $322,470.00. Following the transaction, the director now directly owns 54,137 shares in the company, valued at $5,819,186.13. This represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 20,673 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $104.66, for a total transaction of $2,163,636.18. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $605,248.78. The trade was a 78.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,673 shares of company stock valued at $4,555,106 in the last ninety days. Insiders own 22.30% of the company's stock.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded up $1.47 on Thursday, hitting $104.46. The company's stock had a trading volume of 78,257 shares, compared to its average volume of 842,356. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The company has a market capitalization of $5.14 billion, a P/E ratio of -17.44 and a beta of 0.46. The firm has a fifty day moving average price of $107.52 and a 200-day moving average price of $105.96. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

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.