MetLife Investment Management LLC Has $20.87 Million Stake in Axsome Therapeutics, Inc. $AXSM

Key Points

• MetLife Investment Management LLC significantly increased its stake in Axsome Therapeutics by 703.3% during the first quarter, now owning 178,955 shares valued at approximately $20.87 million.
• Several institutions, including Caitong International and NBC Securities, have recently initiated positions in Axsome Therapeutics, which is now 81.49% owned by institutional investors.
• Analysts are optimistic about Axsome Therapeutics, with a consensus target price of $178.00 and multiple firms, including Wells Fargo and Royal Bank of Canada, rating it as "outperform" or "buy."

MetLife Investment Management LLC boosted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 703.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,955 shares of the company's stock after acquiring an additional 156,678 shares during the period. MetLife Investment Management LLC owned 0.36% of Axsome Therapeutics worth $20,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXSM. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics during the 1st quarter worth $25,000. NBC Securities Inc. bought a new position in shares of Axsome Therapeutics during the 1st quarter worth about $31,000. Quantbot Technologies LP bought a new position in shares of Axsome Therapeutics during the 1st quarter worth about $31,000. AlphaQuest LLC bought a new position in shares of Axsome Therapeutics during the 1st quarter worth about $38,000. Finally, Neo Ivy Capital Management bought a new position in shares of Axsome Therapeutics during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

AXSM has been the topic of several research reports. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Robert W. Baird boosted their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $178.00.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of the business'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 transaction, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $100.12, for a total transaction of $602,121.68. The disclosure for this sale can be found here. Insiders have sold a total of 90,437 shares of company stock valued at $9,511,745 over the last quarter. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $118.51 on Monday. The stock has a market cap of $5.91 billion, a P/E ratio of -23.37 and a beta of 0.51. The company's 50-day simple moving average is $106.36 and its 200 day simple moving average is $111.17. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

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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