Nuveen LLC Invests $48.19 Million in Axsome Therapeutics, Inc. $AXSM

Key Points

• Nuveen LLC has made a significant investment of $48.19 million by acquiring 413,141 shares of Axsome Therapeutics, indicating a growing institutional interest in the company.
• Insider trading activity includes notable sales from Director Mark Coleman and COO Mark L. Jacobson, who sold a total of 28,750 shares, reflecting a potential shift in insider sentiment.
• Analysts show a positive outlook on Axsome Therapeutics with multiple firms issuing a "buy" rating, leading to a consensus price target of $178.00 on the stock.

Nuveen LLC purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 413,141 shares of the company's stock, valued at approximately $48,185,000. Nuveen LLC owned 0.84% of Axsome Therapeutics at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AXSM. NBC Securities Inc. acquired a new stake in Axsome Therapeutics during the 1st quarter worth approximately $31,000. Neo Ivy Capital Management purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at $41,000. Raiffeisen Bank International AG purchased a new position in shares of Axsome Therapeutics in the 4th quarter valued at $51,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the 4th quarter valued at $76,000. Finally, GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics during the 4th quarter worth $86,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of Axsome Therapeutics stock in a transaction dated Monday, June 23rd. The stock was 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 sold a total of 90,437 shares of company stock worth $9,511,745 over the last ninety days. 22.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AXSM. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Robert W. Baird raised their price objective on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Oppenheimer began coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 price objective on the stock. Royal Bank Of Canada raised their price objective on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $178.00.

Axsome Therapeutics Price Performance

AXSM traded down $0.54 during midday trading on Tuesday, reaching $110.59. 133,000 shares of the company's stock were exchanged, compared to its average volume of 771,836. The stock has a market capitalization of $5.52 billion, a PE ratio of -21.83 and a beta of 0.51. 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 current ratio of 1.57 and a quick ratio of 1.51. The business's 50-day moving average price is $105.65 and its 200 day moving average price is $111.03.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million during the quarter, compared to the consensus estimate 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, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS 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.