Iridian Asset Management LLC CT Sells 18,767 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Iridian Asset Management LLC CT decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,312 shares of the company's stock after selling 18,767 shares during the quarter. Axsome Therapeutics makes up about 3.9% of Iridian Asset Management LLC CT's portfolio, making the stock its 9th biggest holding. Iridian Asset Management LLC CT owned approximately 0.22% of Axsome Therapeutics worth $12,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AXSM. NBC Securities Inc. purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at about $31,000. Raiffeisen Bank International AG purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $51,000. Assetmark Inc. acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at $52,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the 4th quarter valued at $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Shares of AXSM traded down $1.75 during mid-day trading on Friday, reaching $108.98. 978,142 shares of the company's stock were exchanged, compared to its average volume of 668,909. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. Axsome Therapeutics, Inc. has a 52-week low of $72.21 and a 52-week high of $139.13. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -18.89 and a beta of 0.46. The company has a 50-day simple moving average of $106.51 and a two-hundred day simple moving average of $108.27.

Insider Transactions at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the sale, the chief operating officer owned 5,783 shares in the company, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,437 shares of company stock valued at $9,834,215 over the last three months. 22.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AXSM has been the subject of several research reports. Morgan Stanley started coverage on Axsome Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price for the company. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Jefferies Financial Group began coverage on Axsome Therapeutics in a report on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Finally, Robert W. Baird increased their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of "Buy" and an average target price of $172.33.

Axsome Therapeutics Company Profile

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.