Nicholas Investment Partners LP Purchases 42,907 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Nicholas Investment Partners LP increased its Axsome Therapeutics stake by 88.2% in the fourth quarter, buying 42,907 additional shares and bringing its total to 91,564 shares worth about $16.7 million.
• Other large institutional holders also boosted positions, and 81.49% of Axsome Therapeutics shares are owned by institutional investors, signaling strong professional interest in the stock.
• Despite recent revenue growth of 57.4% year over year, Axsome reported a quarterly EPS loss that missed estimates, while analysts still maintain a Moderate Buy consensus with an average price target of $256.79.

Nicholas Investment Partners LP raised its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 88.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,564 shares of the company's stock after buying an additional 42,907 shares during the quarter. Axsome Therapeutics comprises about 1.2% of Nicholas Investment Partners LP's holdings, making the stock its 13th largest position. Nicholas Investment Partners LP owned about 0.18% of Axsome Therapeutics worth $16,723,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Axsome Therapeutics by 6.0% in the third 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 period. Wellington Management Group LLP raised its stake in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after buying an additional 609,516 shares during the period. Geode Capital Management LLC raised its stake in shares of Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company's stock valued at $184,544,000 after buying an additional 12,549 shares during the period. Invesco Ltd. raised its stake in shares of Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company's stock valued at $120,303,000 after buying an additional 419,008 shares during the period. Finally, State Street Corp raised its stake in shares of Axsome Therapeutics by 5.8% in the second quarter. State Street Corp now owns 958,503 shares of the company's stock valued at $100,058,000 after buying an additional 52,483 shares during the period. 81.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 49,670 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ari Maizel sold 7,500 shares of the business's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider owned 7,500 shares of the company's stock, 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 113,686 shares of company stock valued at $26,666,006 over the last 90 days. Insiders own 20.60% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $255.17 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $257.92. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of -68.41 and a beta of 0.61. The business's fifty day moving average is $210.94 and its 200 day moving average is $181.95.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The company's revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXSM. Jefferies Financial Group restated a "buy" rating and issued a $380.00 target price on shares of Axsome Therapeutics in a research note on Thursday. Truist Financial upgraded Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Mizuho boosted their price objective on Axsome Therapeutics from $228.00 to $310.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. UBS Group boosted their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Finally, Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $256.79.

Axsome Therapeutics 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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