Bank of New York Mellon Corp Has $15.28 Million Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Bank of New York Mellon Corp lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,023 shares of the company's stock after selling 3,527 shares during the period. Bank of New York Mellon Corp owned 0.27% of Axsome Therapeutics worth $15,281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Axsome Therapeutics by 16,852.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after purchasing an additional 623,717 shares in the last quarter. Boxer Capital Management LLC bought a new stake in Axsome Therapeutics during the fourth quarter valued at $39,767,000. Lazard Asset Management LLC raised its position in Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares in the last quarter. Norges Bank purchased a new stake in Axsome Therapeutics during the fourth quarter valued at about $34,100,000. Finally, BVF Inc. IL increased its holdings in shares of Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock worth $117,444,000 after buying an additional 342,064 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Down 0.5%

Shares of Axsome Therapeutics stock opened at $111.70 on Friday. The company has a market cap of $5.50 billion, a P/E ratio of -19.36 and a beta of 0.46. 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 one year low of $72.21 and a one year high of $139.13. The firm has a fifty day moving average of $106.55 and a two-hundred day moving average of $109.31.

Insider Activity

In other news, General Counsel Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,437 shares of company stock worth $9,834,215 in the last 90 days. 22.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research reports. Royal Bank Of Canada decreased their target price on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price objective for the company. Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, Robert W. Baird boosted their price target on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of "Buy" and an average target price 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.

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