Lindbrook Capital LLC Decreases Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Lindbrook Capital LLC lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 22.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,041 shares of the company's stock after selling 14,103 shares during the quarter. Axsome Therapeutics comprises 0.5% of Lindbrook Capital LLC's holdings, making the stock its 29th largest position. Lindbrook Capital LLC owned 0.10% of Axsome Therapeutics worth $5,603,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after buying an additional 623,717 shares in the last quarter. Boxer Capital Management LLC purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $39,767,000. Lazard Asset Management LLC raised its position in Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares during the period. Norges Bank purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $34,100,000. Finally, BVF Inc. IL raised its position in Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after purchasing an additional 342,064 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC dropped their price objective on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, June 9th. Jefferies Financial Group started coverage on Axsome Therapeutics in a research note on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Morgan Stanley started coverage on Axsome Therapeutics in a research note 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 note 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $172.33.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction on 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 directly owned 5,783 shares of the company's stock, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 directly owned 50,387 shares in the company, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock worth $9,834,215 in the last quarter. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $111.70 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48. The business's 50 day moving average is $106.55 and its two-hundred day moving average is $109.31. Axsome Therapeutics, Inc. has a 12-month low of $72.21 and a 12-month high of $139.13. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of -19.36 and a beta of 0.46.

Axsome Therapeutics 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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