Mutual of America Capital Management LLC Increases Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Key Points

• Mutual of America Capital Management LLC increased its stake in Axsome Therapeutics by 9.3% in Q2, owning 43,303 shares worth approximately $4.52 million.
• A significant portion of Axsome Therapeutics' stock, 81.49%, is currently owned by hedge funds and institutional investors, indicating strong institutional interest.
• Despite recent insider selling, analysts maintain a generally positive outlook, with multiple ratings of buy and a consensus target price of $178.20 for Axsome Therapeutics stock.

Mutual of America Capital Management LLC raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,303 shares of the company's stock after purchasing an additional 3,680 shares during the quarter. Mutual of America Capital Management LLC owned 0.09% of Axsome Therapeutics worth $4,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BVF Inc. IL grew its position in Axsome Therapeutics by 21.8% in the 1st quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock valued at $197,130,000 after buying an additional 302,157 shares during the last quarter. Invesco Ltd. boosted its holdings in Axsome Therapeutics by 23.8% in the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company's stock valued at $99,952,000 after purchasing an additional 164,537 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock valued at $82,023,000 after purchasing an additional 30,122 shares in the last quarter. Nuveen LLC purchased a new stake in Axsome Therapeutics in the 1st quarter valued at approximately $48,185,000. Finally, Northern Trust Corp boosted its holdings in Axsome Therapeutics by 2.1% in the 1st quarter. Northern Trust Corp now owns 410,969 shares of the company's stock valued at $47,931,000 after purchasing an additional 8,469 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Roger Jeffs sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the transaction, the director owned 90,974 shares of the company's stock, valued at approximately $11,062,438.40. This represents a 18.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 27,907 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $118.96, for a total value of $3,319,816.72. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $859,961.84. This represents a 79.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,332 shares of company stock worth $28,824,746. Corporate insiders own 22.30% of the company's stock.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. B. Riley assumed coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They set a "buy" rating and a $179.00 target price on the stock. Morgan Stanley boosted their target price on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the stock an "overweight" rating in a research report on Monday. Needham & Company LLC reissued a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. Finally, Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $178.20.

Axsome Therapeutics Price Performance

AXSM stock opened at $129.72 on Thursday. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The stock's 50 day moving average price is $120.42 and its 200 day moving average price is $110.79. The firm has a market cap of $6.47 billion, a P/E ratio of -25.59 and a beta of 0.52.

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

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.

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