FORA Capital LLC Buys Shares of 7,633 Axsome Therapeutics, Inc. $AXSM

Key Points

• FORA Capital LLC acquired a new stake in Axsome Therapeutics, purchasing 7,633 shares valued at approximately $890,000 during the first quarter of the year.
• A notable insider, Director Roger Jeffs, sold 20,000 shares for over $2.4 million, reducing his ownership in the company by 13.25%.
• Analysts maintain a positive outlook for Axsome Therapeutics, with a consensus price target of $178.00 and multiple firms rating it as "buy" or "strong buy."

FORA Capital LLC purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,633 shares of the company's stock, valued at approximately $890,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Axsome Therapeutics by 42.8% during the 1st quarter. Principal Financial Group Inc. now owns 295,671 shares of the company's stock worth $34,484,000 after acquiring an additional 88,606 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Axsome Therapeutics during the 1st quarter worth approximately $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock valued at $4,877,000 after purchasing an additional 9,928 shares during the last quarter. Trek Financial LLC purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at approximately $3,446,000. Finally, Edgestream Partners L.P. acquired a new position in Axsome Therapeutics during the first quarter worth $8,174,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction on 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 owned 5,783 shares of the company's stock, valued at $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. Insiders sold a total of 102,708 shares of company stock valued at $11,720,812 in the last three months. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $0.47 during trading hours on Monday, hitting $121.28. 351,676 shares of the company were exchanged, compared to its average volume of 562,275. The company has a market capitalization of $6.05 billion, a PE ratio of -23.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The firm has a fifty day simple moving average of $108.21 and a 200-day simple moving average of $110.99. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The business had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Robert W. Baird increased their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Needham & Company LLC restated a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 4th. Finally, Oppenheimer assumed coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Buy" and a consensus target price of $178.00.

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.