KLP Kapitalforvaltning AS Raises Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• KLP Kapitalforvaltning AS raised its stake in Axsome Therapeutics by 36.6% in Q2, owning 11,200 shares valued at $1,169,000.
• Insider selling included COO Mark L. Jacobson offloading 10,000 shares and CEO Herriot Tabuteau selling 12,774 shares, with significant declines in their ownership percentages.
• Analysts have rated Axsome Therapeutics stock positively, with a consensus rating of "Buy" and a price target of $177.93.

KLP Kapitalforvaltning AS boosted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 36.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,200 shares of the company's stock after buying an additional 3,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Axsome Therapeutics were worth $1,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $25,000. Quantbot Technologies LP purchased a new position in Axsome Therapeutics in the 1st quarter valued at about $31,000. AlphaQuest LLC acquired a new stake in Axsome Therapeutics in the 1st quarter valued at about $38,000. Neo Ivy Capital Management acquired a new stake in Axsome Therapeutics in the 1st quarter valued at about $41,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Axsome Therapeutics in the 1st quarter valued at about $47,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 12,774 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $118.84, for a total transaction of $1,518,062.16. Following the sale, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $859,094.36. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,332 shares of company stock valued at $28,824,746 in the last ninety days. Corporate insiders own 22.40% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $123.52 on Wednesday. The firm has a 50 day simple moving average of $117.53 and a 200-day simple moving average of $109.96. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The firm has a market cap of $6.16 billion, a PE ratio of -24.36 and a beta of 0.52. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million during the quarter, compared to analyst estimates of $140.02 million. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AXSM shares. Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. B. Riley assumed coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They issued a "buy" rating and a $179.00 price objective on the stock. Royal Bank Of Canada lifted their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Bank of America lifted their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Needham & Company LLC restated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $177.93.

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.

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