Knights of Columbus Asset Advisors LLC Has $1.86 Million 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 lowered its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 23.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,980 shares of the company's stock after selling 4,957 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Axsome Therapeutics were worth $1,864,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth approximately $31,000. Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics in the first quarter worth $41,000. Raiffeisen Bank International AG acquired a new stake in shares of Axsome Therapeutics in the fourth quarter worth $51,000. Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at $76,000. Finally, GF Fund Management CO. LTD. acquired a new position in Axsome Therapeutics during the 4th quarter valued at $86,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 target price on the stock. Oppenheimer started coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. Finally, Needham & Company LLC lowered their target price on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $172.33.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics 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. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total transaction 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 over the last ninety days. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Performance

AXSM stock traded up $2.49 during midday trading on Wednesday, reaching $102.90. 181,705 shares of the company were exchanged, compared to its average volume of 789,663. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. The business has a 50-day moving average price of $106.03 and a two-hundred day moving average price of $110.27. Axsome Therapeutics, Inc. has a one year low of $72.21 and a one year high of $139.13. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -17.80 and a beta of 0.46.

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.