Landscape Capital Management L.L.C. Sells 3,983 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Landscape Capital Management reduced its Axsome Therapeutics stake by 20.7% in the fourth quarter, selling 3,983 shares and leaving it with 15,305 shares valued at about $2.8 million.
• Axsome reported revenue of $191.2 million for the quarter, up 57.4% year over year, but posted an EPS loss of $1.26, worse than Wall Street’s estimate.
• Analyst sentiment remains positive, with a Moderate Buy consensus and an average price target of $256.79, while several firms recently raised targets or reiterated bullish ratings.

Landscape Capital Management L.L.C. cut its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,305 shares of the company's stock after selling 3,983 shares during the period. Landscape Capital Management L.L.C.'s holdings in Axsome Therapeutics were worth $2,795,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AXSM. Wellington Management Group LLP grew its position in Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock worth $162,082,000 after acquiring an additional 609,516 shares during the last quarter. Norges Bank bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $90,490,000. Invesco Ltd. grew its position in Axsome Therapeutics by 73.3% during the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company's stock worth $120,303,000 after acquiring an additional 419,008 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Axsome Therapeutics by 831.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company's stock worth $46,662,000 after acquiring an additional 399,000 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Axsome Therapeutics by 566.5% during the 3rd quarter. Marshall Wace LLP now owns 378,024 shares of the company's stock worth $45,911,000 after acquiring an additional 321,308 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $255.17 on Monday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The company has a market capitalization of $13.13 billion, a P/E ratio of -68.41 and a beta of 0.61. The company's 50 day moving average price is $210.94 and its two-hundred day moving average price is $182.16. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $257.92.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics's revenue for the quarter was up 57.4% on a year-over-year basis. On average, analysts expect that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on AXSM shares. Truist Financial upgraded Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research report on Tuesday, May 5th. Piper Sandler reiterated an "overweight" rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. TD Cowen reiterated a "buy" rating on shares of Axsome Therapeutics in a research report on Friday, May 1st. Finally, UBS Group increased their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $256.79.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares of the company's stock, valued at $267,810.09. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the sale, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This represents a 0.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 113,686 shares of company stock worth $26,666,006. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.