Fifth Third Bancorp Has $2.74 Million Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Fifth Third Bancorp boosted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 554.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,214 shares of the company's stock after purchasing an additional 13,737 shares during the period. Fifth Third Bancorp's holdings in Axsome Therapeutics were worth $2,741,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Birchview Capital LP raised its holdings in shares of Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company's stock worth $1,107,000 after buying an additional 61 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock valued at $351,000 after buying an additional 65 shares in the last quarter. Xponance LLC boosted its stake in Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company's stock valued at $596,000 after buying an additional 76 shares in the last quarter. Allworth Financial LP grew its position in Axsome Therapeutics by 6.6% in the third quarter. Allworth Financial LP now owns 1,442 shares of the company's stock valued at $175,000 after acquiring an additional 89 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Axsome Therapeutics by 4.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,190 shares of the company's stock valued at $400,000 after acquiring an additional 89 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on AXSM shares. Mizuho increased their price objective on Axsome Therapeutics from $228.00 to $310.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 11th. Truist Financial upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Monday, June 15th. UBS Group lifted their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a report on Friday, April 10th. Finally, Needham & Company LLC boosted their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $261.48.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $221.64 on Tuesday. The stock's fifty day moving average is $238.45 and its 200-day moving average is $199.09. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market capitalization of $11.41 billion, a PE ratio of -59.42 and a beta of 0.60. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts expect that Axsome Therapeutics, Inc. will post -2.45 EPS for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 286 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares of the company's stock, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 49,666 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,736,767.25. This trade represents a 87.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 163,352 shares of company stock worth $38,598,262. Corporate insiders own 20.60% of the company's stock.

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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