Corient Private Wealth LP Makes New $1.26 Million Investment in Axsome Therapeutics, Inc. $AXSM

Key Points

• Corient Private Wealth invested approximately $1.26 million in Axsome Therapeutics during the second quarter by purchasing 5,156 shares. Institutional investors and hedge funds now own 81.49% of AXSM’s outstanding stock.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $267.60; individual targets range as high as $380.
• AXSM opened at $206.68, while the company recently reported a quarterly loss of $0.99 per share, missing estimates, and insiders sold approximately $44.8 million of stock over the past 90 days.

Corient Private Wealth LP purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,156 shares of the company's stock, valued at approximately $1,262,000.

Several other institutional investors and hedge funds have also modified their holdings of AXSM. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter worth about $31,000. Hollencrest Capital Management lifted its stake in Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after purchasing an additional 160 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter worth $37,000. ABS Investment Management LLC acquired a new position in shares of Axsome Therapeutics during the second quarter worth $171,339,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at $66,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXSM has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Mizuho upped their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. BMO Capital Markets started coverage on Axsome Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $310.00 target price for the company. Royal Bank Of Canada dropped their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group restated a "buy" rating and set a $380.00 target price on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $267.60.

Axsome Therapeutics Stock Down 0.8%

AXSM opened at $206.68 on Friday. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The company's 50-day moving average price is $223.81 and its two-hundred day moving average price is $207.48. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of -55.11 and a beta of 0.71. 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 (NASDAQ:AXSM - Get Free Report) last issued its 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 business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 4,660 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,546,644.55. This trade represents a 39.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the transaction, the director directly owned 30,389 shares of the company's stock, valued at $7,566,861. The trade was a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 193,229 shares of company stock worth $44,752,676 in the last 90 days. 20.60% of the stock is owned by company 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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