Fox Run Management L.L.C. Acquires 7,465 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Fox Run Management L.L.C. increased its stake in Axsome Therapeutics by 122.0%, owning 13,584 shares valued at approximately $1.58 million after acquiring an additional 7,465 shares in Q1.
• Axsome Therapeutics reported Q2 earnings with a loss of ($0.92) EPS, beating estimates, and revenue of $150.04 million, exceeding expectations.
• Analysts continue to show strong support for Axsome Therapeutics, with a consensus rating of "Buy" and a target price averaging $178.00.

Fox Run Management L.L.C. boosted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 122.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,584 shares of the company's stock after purchasing an additional 7,465 shares during the quarter. Fox Run Management L.L.C.'s holdings in Axsome Therapeutics were worth $1,584,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $25,000. NBC Securities Inc. acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $31,000. Neo Ivy Capital Management acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $41,000. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics during the fourth quarter valued at approximately $51,000. Finally, Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics during the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Down 0.3%

AXSM traded down $0.32 during trading on Tuesday, reaching $110.81. 169,887 shares of the stock were exchanged, compared to its average volume of 772,331. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The stock has a market cap of $5.53 billion, a P/E ratio of -21.87 and a beta of 0.51. The stock's 50 day moving average price is $105.65 and its two-hundred day moving average price is $111.03. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The business had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Transactions at Axsome Therapeutics

In related news, General Counsel Hunter R. Murdock sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the transaction, the chief operating officer owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,437 shares of company stock valued at $9,511,745. 22.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. HC Wainwright reaffirmed a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Morgan Stanley started coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat, the stock currently 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.