Legato Capital Management LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,981 shares of the company's stock, valued at approximately $1,164,000.
A number of other large investors also recently made changes to their positions in AXSM. HighTower Advisors LLC acquired a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $1,139,000. Corient Private Wealth LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $239,000. Xponance Inc. grew its stake in shares of Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after buying an additional 277 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Axsome Therapeutics by 19.4% in the 4th quarter. Teacher Retirement System of Texas now owns 9,241 shares of the company's stock valued at $782,000 after buying an additional 1,499 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at approximately $570,000. Institutional investors and hedge funds own 81.49% of the company's stock.
Analyst Ratings Changes
AXSM has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, June 9th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Robert W. Baird upped their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley initiated coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price for the company. Finally, Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of "Buy" and an average price target of $172.33.
Read Our Latest Analysis on AXSM
Insider Transactions at Axsome Therapeutics
In related news, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the transaction, the chief operating officer owned 5,783 shares in the company, valued at $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were 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 in the company, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,437 shares of company stock worth $9,834,215. Insiders own 22.30% of the company's stock.
Axsome Therapeutics Price Performance
Shares of AXSM stock traded down $4.14 during trading hours on Friday, hitting $100.83. 854,936 shares of the company's stock were exchanged, compared to its average volume of 606,771. The stock's 50-day moving average is $106.35 and its 200-day moving average is $110.00. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -17.47 and a beta of 0.46. Axsome Therapeutics, Inc. has a 52 week low of $72.21 and a 52 week high of $139.13.
About Axsome Therapeutics
(
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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