Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Cwm LLC

Key Points

• Cwm LLC significantly reduced its stake in Axsome Therapeutics by 90.4%, holding only 1,787 shares after selling 16,918 shares in the first quarter.
• While Cwm LLC decreased its position, other hedge funds such as BVF Inc. IL and Assenagon Asset Management increased their holdings in Axsome Therapeutics, indicating mixed sentiment among institutional investors.
• Analysts maintain a consensus “Buy” rating on Axsome Therapeutics, with a price target range between $150 and $200, suggesting potential growth despite recent fluctuations.

CWM LLC trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 90.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,787 shares of the company's stock after selling 16,918 shares during the period. CWM LLC's holdings in Axsome Therapeutics were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AXSM. NBC Securities Inc. purchased a new stake in Axsome Therapeutics in the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $51,000. Aquatic Capital Management LLC purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $76,000. GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $86,000. Finally, Bank Hapoalim BM purchased a new stake in Axsome Therapeutics in the 1st quarter worth approximately $204,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the transaction, the chief operating officer owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total transaction of $751,950.00. The disclosure for this sale can be found here. Insiders have sold 93,437 shares of company stock worth $9,834,215 in the last quarter. 22.30% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Up 1.0%

Shares of NASDAQ:AXSM traded up $0.97 during midday trading on Thursday, hitting $102.23. 90,681 shares of the company's stock traded hands, compared to its average volume of 787,687. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03. The company has a market cap of $5.03 billion, a PE ratio of -17.69 and a beta of 0.46. The firm's fifty day moving average price is $105.94 and its two-hundred day moving average price is $110.20. Axsome Therapeutics, Inc. has a twelve month low of $72.21 and a twelve month high of $139.13.

Wall Street Analyst Weigh In

Several analysts have commented on AXSM shares. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada decreased their price target on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a report on Thursday, June 12th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Finally, Needham & Company LLC decreased their price target on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target 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.