Man Group plc Makes New Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Man Group plc purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 163,388 shares of the company's stock, valued at approximately $13,824,000. Man Group plc owned about 0.34% of Axsome Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXSM. BVF Inc. IL boosted its stake in shares of Axsome Therapeutics by 32.7% in the 4th 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock valued at $77,228,000 after purchasing an additional 4,079 shares during the period. Invesco Ltd. boosted its holdings in Axsome Therapeutics by 10.8% during the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company's stock worth $58,589,000 after buying an additional 67,285 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Axsome Therapeutics by 3.2% during the 4th quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock worth $54,555,000 after buying an additional 19,701 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after acquiring an additional 451,737 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXSM. HC Wainwright lowered their target price on shares of Axsome Therapeutics from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft began coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $176.00 target price on the stock. Jefferies Financial Group began coverage on Axsome Therapeutics in a research note on Monday, April 7th. They issued a "buy" rating and a $200.00 target price for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of "Buy" and an average target price of $172.14.

Axsome Therapeutics Stock Down 2.4%

AXSM traded down $2.59 on Wednesday, hitting $105.76. 380,410 shares of the company were exchanged, compared to its average volume of 688,043. The stock's fifty day moving average is $110.00 and its 200-day moving average is $105.45. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The company has a market cap of $5.21 billion, a PE ratio of -17.66 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million for the quarter, compared to analysts' expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark Coleman sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $107.49, for a total transaction of $322,470.00. Following the completion of the sale, the director now directly owns 54,137 shares in the company, valued at $5,819,186.13. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.30% of the stock is owned by insiders.

About Axsome Therapeutics

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.