Deutsche Bank AG Takes Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Deutsche Bank initiated a new Axsome Therapeutics position by purchasing 86,466 shares worth approximately $21.2 million, while institutional investors collectively owned 81.49% of the company at quarter-end.
• Axsome insiders have been significant sellers, with executives selling 200,766 shares valued at $46.7 million over the past three months. The CFO and CEO reduced their direct holdings by 43.5% and 39.2%, respectively, in reported transactions.
• Analysts remain broadly positive, giving Axsome a consensus “Moderate Buy” rating and an average price target of $267.60. However, the company’s latest quarterly loss of $0.99 per share exceeded the expected loss, while revenue slightly missed estimates.

Deutsche Bank AG purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 86,466 shares of the company's stock, valued at approximately $21,164,000. Deutsche Bank AG owned about 0.17% of Axsome Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXSM. Trust Co. of Vermont bought a new position in Axsome Therapeutics in the 2nd quarter worth about $98,000. TimesSquare Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $17,504,000. Persistent Asset Partners Ltd bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $385,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $1,906,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $107,000. Institutional investors own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares of the company's stock, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Herriot Tabuteau sold 4,660 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,546,644.55. The trade was a 39.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 200,766 shares of company stock valued at $46,685,646 over the last three months. Company insiders own 20.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research raised Axsome Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $380.00 price target on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Cantor Fitzgerald restated an "overweight" rating and set a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Wells Fargo & Company upped their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Finally, Mizuho increased their target price on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $267.60.

Axsome Therapeutics Price Performance

AXSM opened at $207.77 on Friday. The firm has a market capitalization of $10.88 billion, a PE ratio of -55.41 and a beta of 0.65. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The business's 50-day moving average is $232.13 and its two-hundred day moving average is $206.02. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $218.38 million for the quarter, compared to analysts' expectations of $221.11 million. Research analysts anticipate that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Axsome Therapeutics Company Profile

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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