Axsome Therapeutics, Inc. (NASDAQ:AXSM) is Iridian Asset Management LLC CT's 9th Largest Position

Iridian Asset Management LLC CT lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,312 shares of the company's stock after selling 18,767 shares during the period. Axsome Therapeutics accounts for approximately 3.9% of Iridian Asset Management LLC CT's holdings, making the stock its 9th biggest position. Iridian Asset Management LLC CT owned 0.22% of Axsome Therapeutics worth $12,399,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC increased its position in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock worth $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. acquired a new stake in Axsome Therapeutics in the fourth quarter worth $14,771,000. Charles Schwab Investment Management Inc. increased its position in Axsome Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock worth $27,755,000 after buying an additional 5,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Axsome Therapeutics by 20.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after buying an additional 9,928 shares during the period. Finally, Royce & Associates LP increased its position in Axsome Therapeutics by 64.4% in the fourth quarter. Royce & Associates LP now owns 37,000 shares of the company's stock worth $3,131,000 after buying an additional 14,500 shares during the period. Institutional investors own 81.49% of the company's stock.

Insider Activity

In related news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the transaction, the director directly owned 50,387 shares of the company's stock, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction on 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 transaction, the chief operating officer owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,437 shares of company stock valued at $9,834,215. Insiders own 22.30% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $2.37 on Thursday, hitting $109.99. The stock had a trading volume of 351,449 shares, compared to its average volume of 804,930. Axsome Therapeutics, Inc. has a twelve month low of $72.21 and a twelve month high of $139.13. The business's 50 day moving average is $106.61 and its two-hundred day moving average is $107.95. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of -19.06 and a beta of 0.46.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Royal Bank Of Canada cut their price target on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a report on Thursday, June 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Finally, Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $172.33.

Axsome Therapeutics 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.