Iridian Asset Management LLC CT Sells 9,770 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Iridian Asset Management trimmed its stake in Axsome Therapeutics by 11.7%, selling 9,770 shares and leaving 73,783 shares (about 0.15% of the company) valued at roughly $13.48 million; AXSM is Iridian’s 8th-largest holding (≈5% of its portfolio).
• Operational results: Axsome reported Q results with EPS of -$0.56 (beating estimates) and revenue of $196 million (up 65% YoY); the stock has a $9.11 billion market cap and a consensus analyst price target of $218.06 (average rating: Moderate Buy).
• Ownership dynamics: institutional investors hold ~81.5% of AXSM, while insiders sold 112,288 shares (~$19.4M) last quarter—including a 25,000-share sale by a director and a 12,000-share sale by the CFO—leaving insiders with about 22.4% ownership.

Iridian Asset Management LLC CT lowered its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,783 shares of the company's stock after selling 9,770 shares during the quarter. Axsome Therapeutics accounts for about 5.0% of Iridian Asset Management LLC CT's holdings, making the stock its 8th largest position. Iridian Asset Management LLC CT owned approximately 0.15% of Axsome Therapeutics worth $13,476,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Yorktown Management & Research Co Inc acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $310,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $347,000. Franklin Street Advisors Inc. NC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $1,826,000. Element Squared LLC acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $1,476,000. Finally, Aberdeen Group plc raised its holdings in shares of Axsome Therapeutics by 2.9% during the fourth quarter. Aberdeen Group plc now owns 97,413 shares of the company's stock valued at $17,792,000 after acquiring an additional 2,765 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $178.11 on Monday. The company's fifty day moving average is $170.25 and its 200-day moving average is $156.11. Axsome Therapeutics, Inc. has a 12 month low of $93.95 and a 12 month high of $191.50. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -48.27 and a beta of 0.48. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.14. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The company had revenue of $196.00 million for the quarter, compared to analyst estimates of $191.33 million. The business's revenue for the quarter was up 65.0% on a year-over-year basis. Equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AXSM shares. Mizuho set a $230.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, February 19th. Guggenheim upped their price objective on shares of Axsome Therapeutics from $220.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday, March 25th. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. Jefferies Financial Group set a $215.00 price objective on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Finally, Truist Financial upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $218.06.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark Coleman sold 25,000 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the completion of the sale, the director directly owned 47,140 shares of the company's stock, valued at approximately $7,594,725.40. This represents a 34.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nick Pizzie sold 12,000 shares of the company's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the sale, the chief financial officer directly owned 42,588 shares of the company's stock, valued at approximately $8,003,136.96. This represents a 21.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,288 shares of company stock worth $19,408,377 in the last quarter. 22.40% of the stock is owned by corporate insiders.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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