Eventide Asset Management LLC Sells 175,172 Shares of Axsome Therapeutics, Inc. $AXSM

Eventide Asset Management LLC lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 571,226 shares of the company's stock after selling 175,172 shares during the period. Axsome Therapeutics comprises approximately 1.6% of Eventide Asset Management LLC's holdings, making the stock its 10th biggest holding. Eventide Asset Management LLC owned about 1.13% of Axsome Therapeutics worth $104,195,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AXSM. Optiver Holding B.V. raised its stake in shares of Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company's stock valued at $35,000 after acquiring an additional 130 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $40,000. GAMMA Investing LLC raised its stake in shares of Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company's stock valued at $49,000 after acquiring an additional 106 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock valued at $50,000 after acquiring an additional 235 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $60,000. Institutional investors own 81.49% of the company's stock.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 49,670 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the transaction, the chief operating officer directly owned 4,517 shares of the company's stock, valued at $1,029,604.98. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,686 shares of company stock worth $26,666,006 over the last ninety days. Insiders own 20.60% of the company's stock.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of research analyst reports. Guggenheim lifted their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Wells Fargo & Company lifted their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Needham & Company LLC lifted their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Jefferies Financial Group restated a "buy" rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday. Finally, UBS Group boosted their price objective on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.79.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $255.17 on Friday. The firm has a fifty day moving average of $210.94 and a two-hundred day moving average of $181.95. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of -68.41 and a beta of 0.61. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $257.92. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The company's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS for the current year.

About Axsome Therapeutics

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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