M&T Bank Corp Acquires 47,602 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• M&T Bank Corp boosted its stake in Axsome by 2,553.8%, adding 47,602 shares in Q4 to hold 49,466 shares (about $8.28M), while institutional investors now own 81.49% of the stock.
• Wall Street sentiment is broadly positive — one Strong Buy, 17 Buys and 2 Sells give an average "Moderate Buy" rating with a mean price target of $218.06, and several firms recently raised targets into the $222–$245 range.
• Axsome beat Q expectations (EPS −$0.56 vs −$0.70; revenue $196M, +65% YoY) but remains unprofitable (negative net margin/ROE), and insiders have sold about 100,288 shares (~$17.1M) in the past 90 days.

M&T Bank Corp lifted its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 2,553.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 49,466 shares of the company's stock after acquiring an additional 47,602 shares during the quarter. M&T Bank Corp owned 0.10% of Axsome Therapeutics worth $8,277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company's stock valued at $507,739,000 after buying an additional 235,626 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in Axsome Therapeutics during the 3rd quarter valued at $2,125,000. Aberdeen Group plc raised its holdings in Axsome Therapeutics by 15.5% during the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company's stock valued at $11,495,000 after buying an additional 12,732 shares during the last quarter. Franklin Street Advisors Inc. NC bought a new stake in Axsome Therapeutics during the 4th quarter valued at $1,826,000. Finally, TD Asset Management Inc raised its holdings in Axsome Therapeutics by 107.7% during the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company's stock valued at $5,367,000 after buying an additional 22,914 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AXSM. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price target on shares of Axsome Therapeutics in a report on Monday, February 23rd. Mizuho set a $230.00 price target on shares of Axsome Therapeutics in a report on Thursday, February 19th. Royal Bank Of Canada upped their price target on shares of Axsome Therapeutics from $219.00 to $222.00 and gave the company an "outperform" rating in a report on Tuesday, February 24th. Guggenheim upped their price target on shares of Axsome Therapeutics from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday, March 25th. Finally, Truist Financial upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $218.06.

Axsome Therapeutics Stock Up 1.8%

Shares of Axsome Therapeutics stock opened at $185.96 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The company's fifty day simple moving average is $170.37 and its two-hundred day simple moving average is $160.16. The company has a market cap of $9.51 billion, a P/E ratio of -50.40 and a beta of 0.48. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.70) by $0.14. The business had revenue of $196.00 million for the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The firm's revenue was up 65.0% on a year-over-year basis. Research analysts anticipate that Axsome Therapeutics, Inc. will post -1.22 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 32,410 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the transaction, the chief executive officer directly owned 7,229 shares of the company's stock, valued at approximately $1,341,702.40. The trade was a 81.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ari Maizel sold 7,500 shares of the business's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $1,368,150. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 100,288 shares of company stock valued at $17,138,187 in the last 90 days. 22.30% of the stock is 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.

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