Deutsche Bank AG Cuts Holdings in Axsome Therapeutics, Inc. $AXSM

Key Points

• Deutsche Bank AG reduced its ownership in Axsome Therapeutics by 21.2%, selling 25,567 shares, while holding a remaining 94,980 shares valued at approximately $11 million.
• Several institutional investors increased their stakes in Axsome Therapeutics, with notable increases including Envestnet Asset Management by 74.9% and Russell Investments Group by 1,815% during the fourth quarter.
• Analysts remain optimistic, with various firms raising their price targets and maintaining a "buy" rating for the stock, setting an average target of $178.

Deutsche Bank AG trimmed its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,980 shares of the company's stock after selling 25,567 shares during the quarter. Deutsche Bank AG owned 0.19% of Axsome Therapeutics worth $11,078,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AXSM. NBC Securities Inc. acquired a new stake in Axsome Therapeutics in the 1st quarter valued at about $31,000. Neo Ivy Capital Management acquired a new stake in Axsome Therapeutics in the 1st quarter valued at about $41,000. Raiffeisen Bank International AG acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $51,000. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $76,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Axsome Therapeutics in the 4th quarter valued at about $86,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AXSM shares. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Bank of America upped their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Morgan Stanley started coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $178.00.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the 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 transaction, the chief operating officer directly owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 90,437 shares of company stock valued at $9,511,745. Corporate insiders own 22.30% of the company's stock.

Axsome Therapeutics Stock Performance

AXSM traded up $0.0450 on Tuesday, hitting $111.1750. 71,755 shares of the company traded hands, compared to its average volume of 771,540. The company has a 50 day moving average of $105.65 and a 200-day moving average of $111.03. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $5.55 billion, a PE ratio of -21.95 and a beta of 0.51. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13.

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

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.