Knights of Columbus Asset Advisors LLC Trims Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Axsome Therapeutics by 23.7%, selling 4,957 shares and leaving them with a total of 15,980 shares valued at approximately $1.86 million.
• Insider transactions reveal that COO Mark L. Jacobson sold 25,000 shares for about $2.76 million, indicating a significant decrease in his ownership by 81.21%.
• Analysts have varied opinions on Axsome Therapeutics, with target prices ranging from $150 to $186 and an overall rating of "Buy" being reported, averaging a target price of $172.33.

Knights of Columbus Asset Advisors LLC decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,980 shares of the company's stock after selling 4,957 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Axsome Therapeutics were worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at approximately $31,000. Neo Ivy Capital Management acquired a new position in Axsome Therapeutics during the first quarter worth $41,000. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics during the fourth quarter worth $51,000. Aquatic Capital Management LLC bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth about $86,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Down 0.4%

Shares of AXSM stock traded down $0.44 during trading hours on Monday, reaching $100.39. 699,715 shares of the company's stock were exchanged, compared to its average volume of 795,701. The stock's fifty day moving average price is $106.35 and its two-hundred day moving average price is $110.19. The stock has a market cap of $4.94 billion, a PE ratio of -17.40 and a beta of 0.46. Axsome Therapeutics, Inc. has a 1 year low of $72.21 and a 1 year high of $139.13. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the sale, the director owned 50,387 shares in the company, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The disclosure for this sale can be found here. Insiders sold a total of 93,437 shares of company stock valued at $9,834,215 in the last three months. 22.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on AXSM. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 target price on the stock. Needham & Company LLC cut their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a report on Monday, June 9th. Finally, Royal Bank Of Canada cut their target price 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 research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of "Buy" and a consensus price target of $172.33.

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.