Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Grows Stock Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its stake in Axsome Therapeutics by 14.3%, owning 326,318 shares, following the acquisition of 40,824 additional shares during the second quarter.
• Insider transactions reveal that CEO Herriot Tabuteau and Director Roger Jeffs sold significant shares, with Tabuteau's sale marking a 79.43% decrease in his holdings.
• Axsome Therapeutics reported a quarterly revenue of $150.04 million, surpassing expectations, and has a negative return on equity of -283.22%.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 326,318 shares of the company's stock after acquiring an additional 40,824 shares during the period. Axsome Therapeutics comprises about 4.0% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings, making the stock its 12th largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. owned approximately 0.66% of Axsome Therapeutics worth $34,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its position in Axsome Therapeutics by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock valued at $4,621,000 after purchasing an additional 136 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Axsome Therapeutics in the first quarter worth $25,000. GF Fund Management CO. LTD. raised its holdings in Axsome Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock valued at $145,000 after buying an additional 223 shares during the last quarter. Xponance Inc. boosted its position in Axsome Therapeutics by 8.7% during the 1st quarter. Xponance Inc. now owns 2,891 shares of the company's stock valued at $337,000 after buying an additional 232 shares during the period. Finally, Tocqueville Asset Management L.P. grew its holdings in Axsome Therapeutics by 5.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company's stock worth $606,000 after acquiring an additional 250 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Herriot Tabuteau sold 27,907 shares of Axsome Therapeutics stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company's stock, valued at $859,961.84. This trade represents a 79.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger Jeffs sold 20,000 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the sale, the director directly owned 90,974 shares in the company, valued at $11,062,438.40. The trade was a 18.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,332 shares of company stock worth $28,824,746 in the last three months. 22.30% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Down 0.7%

Shares of NASDAQ:AXSM opened at $121.71 on Friday. The firm has a market capitalization of $6.07 billion, a P/E ratio of -24.01 and a beta of 0.52. 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 has a 50 day moving average price of $116.84 and a 200-day moving average price of $109.93. Axsome Therapeutics, Inc. has a 52-week low of $75.56 and a 52-week high of $139.13.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. B. Riley started coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They set a "buy" rating and a $179.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Axsome Therapeutics in a research report on Wednesday. Royal Bank Of Canada increased their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley initiated coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Finally, Bank of America raised their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $177.93.

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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