Capital Fund Management S.A. Purchases Shares of 13,025 Axsome Therapeutics, Inc. $AXSM

Key Points

• Capital Fund Management S.A. has acquired a new stake in Axsome Therapeutics, purchasing 13,025 shares valued at approximately $1.52 million in the first quarter.
• Institutional ownership of Axsome Therapeutics stands at 81.49%, with several investors significantly increasing their stakes, including BVF Inc. which grew its holdings by 32.7%.
• Axsome Therapeutics reported a quarterly loss of ($0.92) EPS, which was above analysts' expectations, along with revenues of $150.04 million, exceeding estimates of $140.02 million.

Capital Fund Management S.A. purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,025 shares of the company's stock, valued at approximately $1,519,000.

Several other hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new position in shares of Axsome Therapeutics in the first quarter valued at $253,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Axsome Therapeutics during the 1st quarter valued at about $47,000. Quantbot Technologies LP purchased a new position in Axsome Therapeutics during the 1st quarter valued at about $31,000. Wellington Management Group LLP grew its holdings in Axsome Therapeutics by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock valued at $82,023,000 after buying an additional 30,122 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Axsome Therapeutics by 2.1% during the first quarter. Northern Trust Corp now owns 410,969 shares of the company's stock valued at $47,931,000 after acquiring an additional 8,469 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total value of $751,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 102,708 shares of company stock worth $11,720,812. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXSM shares. Bank of America boosted their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Oppenheimer began coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price target for the company. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Robert W. Baird boosted their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley assumed coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $178.00.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded down $0.47 during midday trading on Friday, hitting $121.28. The company had a trading volume of 351,676 shares, compared to its average volume of 562,275. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13. The stock's fifty day moving average price is $108.21 and its 200-day moving average price is $110.99. The company has a market capitalization of $6.05 billion, a PE ratio of -23.92 and a beta of 0.54. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

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

Axsome Therapeutics Company 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.