HB Wealth Management LLC Has $6.23 Million Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• HB Wealth Management LLC boosted its position in Axsome by 136.7% in Q4, purchasing 19,696 shares to hold 34,102 shares worth about $6.23 million (roughly 0.07% of the company).
• Analysts are broadly positive: the stock has a consensus rating of Moderate Buy with a consensus target of $218.06, and several firms recently raised price targets into the $205–$260 range.
• Meanwhile, insiders have been net sellers — 100,288 shares (~$17.14 million) were sold in the past three months (including large CEO and director sales), although insiders still own 22.3% of the company.

HB Wealth Management LLC lifted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 136.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,102 shares of the company's stock after buying an additional 19,696 shares during the period. HB Wealth Management LLC owned about 0.07% of Axsome Therapeutics worth $6,228,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Axsome Therapeutics by 20,300.0% during the third quarter. Versant Capital Management Inc now owns 204 shares of the company's stock valued at $25,000 after purchasing an additional 203 shares during the last quarter. GAMMA Investing LLC boosted its position in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company's stock valued at $49,000 after purchasing an additional 106 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock valued at $50,000 after purchasing an additional 235 shares during the last quarter. First Horizon Corp acquired a new position in Axsome Therapeutics during the third quarter valued at approximately $34,000. Finally, Optiver Holding B.V. boosted its position in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company's stock valued at $35,000 after purchasing an additional 130 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Leerink Partners increased their price target on Axsome Therapeutics from $150.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, January 28th. UBS Group increased their price target on Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a research report on Friday, April 10th. TD Cowen reissued a "buy" rating on shares of Axsome Therapeutics in a research report on Monday, February 23rd. HC Wainwright increased their price target on Axsome Therapeutics from $200.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Axsome Therapeutics in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.06.

Axsome Therapeutics Stock Performance

AXSM opened at $182.72 on Friday. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $191.50. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of -49.52 and a beta of 0.48. The business has a 50 day moving average of $170.28 and a 200-day moving average of $159.70. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The company had revenue of $196.00 million during the quarter, compared to analysts' expectations of $191.33 million. Axsome Therapeutics's revenue was up 65.0% on a year-over-year basis. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ari Maizel sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the sale, the insider directly owned 7,500 shares of the company's stock, valued at $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 SEC, which is available at this link. Also, CEO Herriot Tabuteau sold 32,410 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $185.60, for a total value of $6,015,296.00. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company's stock, valued at approximately $1,341,702.40. The trade was a 81.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 100,288 shares of company stock valued at $17,138,187. Corporate insiders own 22.30% of the company's stock.

About Axsome Therapeutics

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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