2,167 Shares in Axsome Therapeutics, Inc. $AXSM Purchased by EntryPoint Capital LLC

Key Points

• EntryPoint Capital LLC has acquired a new position in Axsome Therapeutics, purchasing 2,167 shares valued at approximately $253,000 during the first quarter.
• Analyst ratings for Axsome Therapeutics remain positive, with a consensus rating of "Buy" and a consensus price target of $178.00, following price target increases from major firms like Wells Fargo and Royal Bank of Canada.
• Current insider selling activity includes significant sales by COO Mark L. Jacobson and Director Mark Coleman, with insiders collectively selling 90,437 shares worth over $9.5 million in the last ninety days.

EntryPoint Capital LLC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,167 shares of the company's stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC raised its position in shares of Axsome Therapeutics by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock worth $4,621,000 after purchasing an additional 136 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Axsome Therapeutics during the first quarter worth $25,000. GF Fund Management CO. LTD. raised its position in shares of Axsome Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock worth $145,000 after purchasing an additional 223 shares during the period. Xponance Inc. raised its position in shares of Axsome Therapeutics by 8.7% during the first quarter. Xponance Inc. now owns 2,891 shares of the company's stock worth $337,000 after purchasing an additional 232 shares during the period. Finally, Tocqueville Asset Management L.P. raised its position in shares of Axsome Therapeutics by 5.1% during the first quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company's stock worth $606,000 after purchasing an additional 250 shares during the period. Institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $120.03, for a total value of $2,400,600.00. Following the completion of the sale, the director owned 130,974 shares of the company's stock, valued at $15,720,809.22. The trade was a 13.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,708 shares of company stock valued at $9,288,812 over the last quarter. Insiders own 22.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AXSM shares. Oppenheimer started coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Bank of America lifted their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Axsome Therapeutics in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Buy" and an average target price of $178.00.

Axsome Therapeutics Stock Down 0.2%

NASDAQ AXSM traded down $0.21 on Friday, reaching $121.54. The stock had a trading volume of 81,822 shares, compared to its average volume of 763,234. The business has a 50 day moving average price of $107.80 and a 200 day moving average price of $111.35. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -23.97 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The company had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal 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.