Hennion & Walsh Asset Management Inc. Cuts Stock Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Hennion & Walsh cut its stake in Axsome Therapeutics by 18.2% in Q4, selling 8,530 shares and leaving it with 38,386 shares valued at about $7.01 million (≈0.08% ownership).
• Analyst sentiment is largely positive with a consensus rating of "Moderate Buy" (one Strong Buy, 17 Buys, 2 Sells) and an average price target of $217.59, with several firms recently raising targets.
• There has been significant insider selling recently—289,279 shares worth about $49.5M in the last 90 days—while insiders still own 22.3% of the stock and institutions hold roughly 81.49%.

Hennion & Walsh Asset Management Inc. cut its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,386 shares of the company's stock after selling 8,530 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.08% of Axsome Therapeutics worth $7,011,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AXSM. Versant Capital Management Inc grew its position in shares of Axsome Therapeutics by 20,300.0% in the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company's stock worth $25,000 after buying an additional 203 shares during the last quarter. GAMMA Investing LLC boosted its stake in Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company's stock valued at $49,000 after acquiring an additional 106 shares in the last quarter. First Horizon Corp acquired a new stake in Axsome Therapeutics in the third quarter valued at approximately $34,000. Optiver Holding B.V. grew its holdings in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company's stock worth $35,000 after purchasing an additional 130 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Axsome Therapeutics in the third quarter worth $38,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AXSM shares. Truist Financial upgraded Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. Wells Fargo & Company boosted their target price on Axsome Therapeutics from $193.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 24th. UBS Group upped their target price on Axsome Therapeutics from $248.00 to $251.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. Piper Sandler increased their price target on Axsome Therapeutics from $148.00 to $223.00 and gave the company an "overweight" rating in a research note on Friday, January 16th. Finally, Jefferies Financial Group set a $215.00 price target on Axsome Therapeutics in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $217.59.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $156.35 on Monday. The firm has a market capitalization of $8.00 billion, a PE ratio of -42.37 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48. Axsome Therapeutics, Inc. has a 1-year low of $86.99 and a 1-year high of $191.50. The company's fifty day moving average price is $173.13 and its 200-day moving average price is $152.38.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $196.00 million for the quarter, compared to the consensus estimate of $191.33 million. The firm's revenue was up 65.0% on a year-over-year basis. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total value of $2,255,040.00. Following the sale, the chief financial officer owned 42,588 shares in the company, valued at $8,003,136.96. This represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Coleman sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the transaction, the director directly owned 47,140 shares of the company's stock, valued at $7,594,725.40. This represents a 34.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 289,279 shares of company stock valued at $49,496,963. Insiders own 22.30% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.