Principal Financial Group Inc. Has $34.48 Million Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Principal Financial Group Inc. lifted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 42.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 295,671 shares of the company's stock after buying an additional 88,606 shares during the period. Principal Financial Group Inc. owned about 0.61% of Axsome Therapeutics worth $34,484,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. DAVENPORT & Co LLC acquired a new stake in Axsome Therapeutics during the first quarter valued at approximately $218,000. Lisanti Capital Growth LLC acquired a new stake in Axsome Therapeutics during the first quarter valued at approximately $3,881,000. Prosperity Wealth Management Inc. acquired a new stake in Axsome Therapeutics during the first quarter valued at approximately $321,000. Janney Montgomery Scott LLC boosted its holdings in Axsome Therapeutics by 8.6% during the first quarter. Janney Montgomery Scott LLC now owns 14,923 shares of the company's stock valued at $1,740,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Axsome Therapeutics by 5.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,644 shares of the company's stock valued at $2,408,000 after purchasing an additional 1,017 shares in the last quarter. Institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the transaction, the chief operating officer owned 5,783 shares of the company's stock, valued at $638,674.52. The trade was a 81.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,437 shares of company stock valued at $9,834,215. Company insiders own 22.30% of the company's stock.

Analysts Set New Price Targets

AXSM has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price for the company. Needham & Company LLC cut their target price on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, June 9th. HC Wainwright reiterated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada lowered their price target on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a report on Thursday, June 12th. One investment 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $172.33.

Axsome Therapeutics Trading Down 1.6%

AXSM traded down $1.75 during trading on Friday, reaching $108.98. 978,142 shares of the company's stock were exchanged, compared to its average volume of 668,909. The company's fifty day moving average price is $106.51 and its 200-day moving average price is $108.27. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03. Axsome Therapeutics, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $139.13. The firm has a market capitalization of $5.37 billion, a PE ratio of -18.89 and a beta of 0.46.

Axsome Therapeutics Company 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.