Iridian Asset Management LLC CT Cuts Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Iridian Asset Management LLC CT trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 106,312 shares of the company's stock after selling 18,767 shares during the quarter. Axsome Therapeutics comprises approximately 3.9% of Iridian Asset Management LLC CT's portfolio, making the stock its 9th biggest position. Iridian Asset Management LLC CT owned about 0.22% of Axsome Therapeutics worth $12,399,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Pitcairn Co. grew its stake in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after purchasing an additional 148 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Axsome Therapeutics by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after purchasing an additional 162 shares during the period. Arizona State Retirement System grew its stake in shares of Axsome Therapeutics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock valued at $766,000 after purchasing an additional 164 shares during the period. Intrust Bank NA grew its stake in shares of Axsome Therapeutics by 6.9% during the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after purchasing an additional 183 shares during the period. Finally, GF Fund Management CO. LTD. grew its stake in shares of Axsome Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock valued at $145,000 after purchasing an additional 223 shares during the period. 81.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price objective on the stock. 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. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Oppenheimer initiated coverage on Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. One research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $172.33.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded down $1.62 during trading hours on Thursday, reaching $110.73. The stock had a trading volume of 718,040 shares, compared to its average volume of 668,575. 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, Inc. has a 52 week low of $72.21 and a 52 week high of $139.13. The company has a 50 day moving average price of $106.58 and a two-hundred day moving average price of $108.12. The stock has a market capitalization of $5.45 billion, a PE ratio of -19.19 and a beta of 0.46.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer owned 5,783 shares of the company's stock, valued at approximately $638,674.52. The trade was a 81.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock valued at $9,834,215 in the last quarter. 22.30% of the stock is currently owned by insiders.

About Axsome Therapeutics

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.