Bank of New York Mellon Corp Acquires Shares of 197,226 Axsome Therapeutics, Inc. $AXSM

Bank of New York Mellon Corp purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 197,226 shares of the company's stock, valued at approximately $48,275,000. Bank of New York Mellon Corp owned approximately 0.38% of Axsome Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at approximately $184,000. GSA Capital Partners LLP acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $2,305,000. Handelsbanken Fonder AB lifted its position in shares of Axsome Therapeutics by 216.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 42,400 shares of the company's stock worth $10,378,000 after buying an additional 29,000 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Axsome Therapeutics by 14.9% in the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company's stock worth $85,000 after buying an additional 45 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Axsome Therapeutics in the 2nd quarter valued at about $105,000. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $206.27 on Friday. The firm has a 50-day moving average price of $228.46 and a 200 day moving average price of $206.78. The firm has a market capitalization of $10.80 billion, a PE ratio of -55.01 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AXSM shares. Morgan Stanley upped their target price on Axsome Therapeutics from $242.00 to $251.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Truist Financial upgraded Axsome Therapeutics to a "strong-buy" rating in a research report on Monday, June 15th. TD Cowen upped their price objective on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Robert W. Baird increased their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Finally, Guggenheim raised their target price on Axsome Therapeutics from $260.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $267.60.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 643 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares of the company's stock, valued at approximately $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the sale, the director owned 58,653 shares in the company, valued at $14,439,195.54. This represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 194,766 shares of company stock worth $45,284,886. 20.60% of the stock is owned by insiders.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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