Iridian Asset Management LLC CT cut its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,312 shares of the company's stock after selling 18,767 shares during the quarter. Axsome Therapeutics accounts for about 3.9% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 9th largest holding. Iridian Asset Management LLC CT owned about 0.22% of Axsome Therapeutics worth $12,399,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Trek Financial LLC bought a new position in Axsome Therapeutics in the 1st quarter worth about $3,446,000. Bank Hapoalim BM acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $204,000. Penserra Capital Management LLC bought a new position in Axsome Therapeutics in the 1st quarter worth approximately $2,229,000. GF Fund Management CO. LTD. increased its position in Axsome Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock valued at $145,000 after acquiring an additional 223 shares during the period. Finally, Moody Aldrich Partners LLC grew its position in Axsome Therapeutics by 38.1% in the 1st quarter. Moody Aldrich Partners LLC now owns 62,339 shares of the company's stock valued at $7,271,000 after buying an additional 17,201 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on AXSM shares. Needham & Company LLC cut their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, June 9th. Morgan Stanley started coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Royal Bank Of Canada reduced their price objective on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a research report on Thursday, June 12th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Finally, Jefferies Financial Group began coverage on Axsome Therapeutics in a research note on Monday, April 7th. They issued a "buy" rating and a $200.00 price target on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of "Buy" and a consensus target price of $172.33.
Read Our Latest Research Report on Axsome Therapeutics
Insider Buying and Selling
In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer owned 5,783 shares of the company's stock, valued at $638,674.52. This represents a 81.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total transaction of $751,950.00. The disclosure for this sale can be found here. Insiders sold 93,437 shares of company stock valued at $9,834,215 over the last quarter. Corporate insiders own 22.30% of the company's stock.
Axsome Therapeutics Stock Performance
NASDAQ AXSM traded up $3.94 during midday trading on Wednesday, hitting $112.35. The company had a trading volume of 886,863 shares, compared to its average volume of 668,852. The firm has a fifty day simple moving average of $106.61 and a two-hundred day simple moving average of $107.95. Axsome Therapeutics, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $139.13. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03.
Axsome Therapeutics Company Profile
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Free Report)
Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.
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