Cwm LLC Trims Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

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 lessened its position 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 Form 13F filing with the SEC. The fund owned 1,787 shares of the company's stock after selling 16,918 shares during the quarter. Cwm LLC's holdings in Axsome Therapeutics were worth $208,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BVF Inc. IL increased its position in 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 in the last quarter. Geode Capital Management LLC increased its position in Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock worth $77,228,000 after buying an additional 4,079 shares in the last quarter. Invesco Ltd. increased its position in Axsome Therapeutics by 10.8% in the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company's stock worth $58,589,000 after buying an additional 67,285 shares in the last quarter. Hood River Capital Management LLC increased its position in Axsome Therapeutics by 3.2% in the fourth quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock worth $54,555,000 after buying an additional 19,701 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after buying an additional 623,717 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reduced their price target on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, June 9th. Morgan Stanley assumed coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group assumed coverage on Axsome Therapeutics in a research report on Monday, April 7th. They set a "buy" rating and a $200.00 target price for the company. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $172.33.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $100.83 on Monday. The stock has a market capitalization of $4.96 billion, a PE ratio of -17.47 and a beta of 0.46. The business has a 50 day simple moving average of $106.35 and a two-hundred day simple moving average of $110.19. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. Axsome Therapeutics, Inc. has a 1-year low of $72.21 and a 1-year high of $139.13.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 7,500 shares of the firm'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 transaction of $751,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the transaction, the director owned 50,387 shares of the company's stock, valued at $5,314,316.89. This represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,437 shares of company stock worth $9,834,215 in the last quarter. 22.40% of the stock is owned by corporate insiders.

About Axsome Therapeutics

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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