Canada Pension Plan Investment Board Purchases 40,400 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Axsome Therapeutics, Inc. by 985.4%, now owning 44,500 shares worth approximately $5.19 million.
• Other institutional investors significantly boosted their positions, with Assenagon Asset Management raising its stake by 16,852.7% to 627,418 shares, valued at $73.18 million.
• Axsome Therapeutics reported earnings of ($0.92) EPS, beating estimates, while revenue reached $150.04 million, surpassing analyst expectations of $140.02 million.

Canada Pension Plan Investment Board raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 985.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,500 shares of the company's stock after acquiring an additional 40,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.09% of Axsome Therapeutics worth $5,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Axsome Therapeutics by 12.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,228 shares of the company's stock worth $2,643,000 after buying an additional 3,366 shares during the period. Northern Trust Corp increased its stake in Axsome Therapeutics by 21.0% during the fourth quarter. Northern Trust Corp now owns 402,500 shares of the company's stock worth $34,056,000 after acquiring an additional 69,918 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Axsome Therapeutics by 1,251.9% in the fourth quarter. BNP Paribas Financial Markets now owns 185,661 shares of the company's stock valued at $15,709,000 after buying an additional 171,928 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Axsome Therapeutics by 171.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 181,213 shares of the company's stock worth $15,332,000 after buying an additional 114,346 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Axsome Therapeutics by 19.5% in the 4th quarter. Cetera Investment Advisers now owns 7,109 shares of the company's stock valued at $601,000 after purchasing an additional 1,160 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 13,464 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $123.68, for a total transaction of $1,665,227.52. Following the completion of the sale, the director directly owned 57,510 shares of the company's stock, valued at approximately $7,112,836.80. This trade represents a 18.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark E. Saad sold 9,127 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $125.07, for a total value of $1,141,513.89. Following the transaction, the director owned 10,002 shares in the company, valued at approximately $1,250,950.14. This represents a 47.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,299 shares of company stock worth $11,766,554. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Price Performance

AXSM traded up $3.05 on Monday, reaching $128.22. The company had a trading volume of 411,730 shares, compared to its average volume of 759,254. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13. The company has a market cap of $6.40 billion, a price-to-earnings ratio of -25.28 and a beta of 0.54. The business has a 50 day simple moving average of $110.23 and a 200 day simple moving average of $110.78.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The business had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXSM. Morgan Stanley started coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price target for the company. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. 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 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. Finally, Royal Bank Of Canada upped their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $177.86.

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.