Ieq Capital LLC Makes New $1.89 Million Investment in Axsome Therapeutics, Inc. $AXSM

Key Points

• Ieq Capital initiated a $1.89 million position in Axsome Therapeutics by purchasing 7,730 shares during the second quarter. Institutional investors and hedge funds collectively own 81.49% of the company.
• Axsome’s latest quarterly results fell short of expectations, with an adjusted loss of $0.99 per share versus the $0.89 consensus estimate and revenue of $218.38 million versus $221.11 million expected.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $267.60, although company insiders sold approximately $46.7 million in shares over the last three months.

Ieq Capital LLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,730 shares of the company's stock, valued at approximately $1,892,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Axsome Therapeutics by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company's stock worth $2,557,000 after acquiring an additional 1,002 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Axsome Therapeutics by 2,407.9% during the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company's stock worth $889,000 after purchasing an additional 7,320 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Axsome Therapeutics by 38.7% during the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company's stock worth $35,189,000 after purchasing an additional 84,151 shares during the period. Caxton Associates LLP bought a new position in shares of Axsome Therapeutics during the 1st quarter valued at about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Axsome Therapeutics by 29.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company's stock valued at $8,735,000 after purchasing an additional 17,250 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,670 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares of the company's stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the transaction, the director owned 35,140 shares of the company's stock, valued at approximately $8,092,742. This represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 200,766 shares of company stock worth $46,685,646 in the last three months. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Trading Up 0.0%

NASDAQ:AXSM opened at $205.48 on Wednesday. The company has a market cap of $10.76 billion, a P/E ratio of -54.79 and a beta of 0.65. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The business has a 50 day moving average price of $230.24 and a two-hundred day moving average price of $206.43. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). The business had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. As a group, analysts expect that Axsome Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Analyst Ratings Changes

AXSM has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating on shares of Axsome Therapeutics in a research note on Monday. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. Jefferies Financial Group reissued a "buy" rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Zacks Research upgraded shares of Axsome Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $267.60.

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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