Iridian Asset Management LLC CT cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 15.0% during the first quarter, according to its most recent disclosure 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 comprises approximately 3.9% of Iridian Asset Management LLC CT's investment 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 quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Trek Financial LLC acquired a new position in Axsome Therapeutics during the first quarter worth $3,446,000. Bank Hapoalim BM acquired a new position in Axsome Therapeutics during the first quarter worth $204,000. Penserra Capital Management LLC acquired a new position in Axsome Therapeutics during the first quarter worth $2,229,000. GF Fund Management CO. LTD. increased its holdings in Axsome Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock worth $145,000 after buying an additional 223 shares during the last quarter. Finally, Moody Aldrich Partners LLC increased its holdings in Axsome Therapeutics by 38.1% during the first quarter. Moody Aldrich Partners LLC now owns 62,339 shares of the company's stock worth $7,271,000 after buying an additional 17,201 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently weighed in on AXSM. Mizuho boosted their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Needham & Company LLC lowered their target price on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Morgan Stanley began coverage on shares of 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 lowered their target price on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a report on Thursday, June 12th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of "Buy" and a consensus price target of $172.33.
Check Out Our Latest Report on AXSM
Insider Activity at Axsome Therapeutics
In related news, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the transaction, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,437 shares of company stock worth $9,834,215. Corporate insiders own 22.30% of the company's stock.
Axsome Therapeutics Stock Performance
Shares of AXSM stock traded down $1.75 on Friday, hitting $108.98. The company's stock had a trading volume of 978,142 shares, compared to its average volume of 668,655. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03. The stock's 50 day moving average is $106.51 and its 200-day moving average is $108.42. 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 market capitalization of $5.37 billion, a PE ratio of -18.89 and a beta of 0.46.
Axsome Therapeutics Company Profile
(
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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