Geode Capital Management LLC Has $184.54 Million Holdings in Axsome Therapeutics, Inc. $AXSM

Key Points

• Geode Capital Management increased its Axsome Therapeutics stake by 1.3% in the fourth quarter, ending with 1,010,249 shares valued at about $184.5 million. The firm now owns roughly 2.0% of the company.
• Insiders have been selling shares, including sales by Ari Maizel and COO Mark L. Jacobson, with total insider sales over the last three months reaching $6.47 million.
• Analysts remain broadly bullish on AXSM, with several firms raising price targets and the stock carrying an average “Moderate Buy” rating and a consensus target of $251.26. Axsome also reported quarterly revenue growth of 57.4%, though earnings missed estimates.

Geode Capital Management LLC lifted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,010,249 shares of the company's stock after buying an additional 12,549 shares during the quarter. Geode Capital Management LLC owned about 2.00% of Axsome Therapeutics worth $184,544,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company's stock worth $49,000 after buying an additional 106 shares during the period. Farther Finance Advisors LLC increased its position in shares of Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock worth $50,000 after buying an additional 235 shares during the period. Optiver Holding B.V. increased its position in shares of Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company's stock worth $35,000 after buying an additional 130 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $38,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Axsome Therapeutics during the third quarter worth $40,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, insider Ari Maizel sold 7,500 shares of the firm's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider directly owned 7,500 shares of the company's stock, valued at approximately $1,368,150. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the firm'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 in the company, valued at $1,029,604.98. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,787 shares of company stock valued at $6,470,391. Corporate insiders own 20.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AXSM shares. Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Piper Sandler reissued an "overweight" rating and set a $258.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. Mizuho increased their target price on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Royal Bank Of Canada increased their target price on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Finally, Guggenheim increased their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $251.26.

Axsome Therapeutics Stock Up 5.0%

Axsome Therapeutics stock opened at $233.31 on Thursday. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $238.56. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of -62.55 and a beta of 0.61. The firm's fifty day moving average price is $199.79 and its two-hundred day moving average price is $177.40. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $191.10 million. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.14 earnings per share for the current fiscal year.

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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