Engineers Gate Manager LP Has $2.74 Million Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Engineers Gate Manager LP reduced its Axsome Therapeutics stake by 31.7% in the second quarter, selling 5,186 shares and retaining 11,198 shares valued at approximately $2.74 million.
• Institutional ownership remains high at 81.49%, with major investors including California State Teachers Retirement System and BlackRock making substantial purchases during the period.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $267.60, despite Axsome missing its latest quarterly EPS and revenue estimates.

Engineers Gate Manager LP cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,198 shares of the company's stock after selling 5,186 shares during the quarter. Engineers Gate Manager LP's holdings in Axsome Therapeutics were worth $2,741,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. California State Teachers Retirement System raised its holdings in Axsome Therapeutics by 27,073.3% during the 2nd quarter. California State Teachers Retirement System now owns 11,176,933 shares of the company's stock worth $2,735,778,000 after buying an additional 11,135,801 shares during the period. BlackRock Inc. acquired a new position in shares of Axsome Therapeutics in the second quarter valued at approximately $759,695,000. Geode Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company's stock valued at $184,544,000 after buying an additional 12,549 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Axsome Therapeutics by 85.0% during the first quarter. Assenagon Asset Management S.A. now owns 865,958 shares of the company's stock worth $146,364,000 after acquiring an additional 397,976 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company's stock worth $97,606,000 after acquiring an additional 534,066 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Activity at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the transaction, the chief operating officer directly owned 10,000 shares in the company, valued at approximately $2,086,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 4,660 shares of the business's stock in a transaction that occurred 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 $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 sold 109,330 shares of company stock worth $24,557,062 in the last 90 days. Corporate insiders own 20.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price 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. Truist Financial raised Axsome Therapeutics to a "strong-buy" rating in a research note on Monday, June 15th. Zacks Research upgraded Axsome Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Royal Bank Of Canada reduced their price objective on Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th. Finally, Mizuho increased their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $267.60.

Axsome Therapeutics Stock Down 1.9%

Axsome Therapeutics stock opened at $216.58 on Tuesday. The firm has a market capitalization of $11.34 billion, a PE ratio of -57.75 and a beta of 0.71. The company's 50-day moving average is $220.13 and its 200-day moving average is $209.01. Axsome Therapeutics, Inc. has a fifty-two week low of $112.90 and a fifty-two week high of $260.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34.

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 firm had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company's research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer's disease, and other neurological or psychiatric disorders.

Axsome's commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.

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