Handelsbanken Fonder AB Has $10.38 Million Stock Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Handelsbanken Fonder AB increased its Axsome Therapeutics stake by 216.4% in the second quarter, acquiring 29,000 additional shares and bringing its position to 42,400 shares worth approximately $10.38 million.
• Axsome reported a quarterly loss of $0.99 per share, missing analyst expectations of a $0.89 loss, while revenue of $218.38 million also came in below estimates. Analysts nevertheless maintain a “Moderate Buy” consensus with an average price target of $267.60.
• Institutional investors own 81.49% of AXSM, while insiders have recently sold approximately $46.7 million of stock. The shares opened at $213.68, below their 52-week high of $260.19.

Handelsbanken Fonder AB boosted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 216.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,400 shares of the company's stock after acquiring an additional 29,000 shares during the period. Handelsbanken Fonder AB owned 0.08% of Axsome Therapeutics worth $10,378,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock worth $162,082,000 after purchasing an additional 609,516 shares during the period. First Trust Advisors LP grew its position in Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company's stock valued at $97,606,000 after purchasing an additional 534,066 shares during the period. Norges Bank acquired a new stake in Axsome Therapeutics in the 4th quarter valued at $90,490,000. Price T Rowe Associates Inc. MD increased its stake in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock valued at $275,763,000 after purchasing an additional 472,422 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company's stock worth $120,303,000 after buying an additional 419,008 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $213.68 on Friday. Axsome Therapeutics, Inc. has a 52 week low of $107.81 and a 52 week high of $260.19. The company's 50 day moving average price is $235.91 and its two-hundred day moving average price is $204.99. The stock has a market cap of $11.19 billion, a P/E ratio of -56.98 and a beta of 0.65. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The business had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 275.76%. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AXSM shares. Morgan Stanley raised their price objective on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an "equal weight" rating in a research note on Tuesday. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Zacks Research lowered shares of Axsome Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Mizuho lifted their price target on Axsome Therapeutics from $306.00 to $316.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $267.60.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 33,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares of the company's stock, valued at $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director owned 35,140 shares in the company, valued at $8,092,742. The trade was a 14.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 200,766 shares of company stock worth $46,685,646 over the last 90 days. Company 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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