Pallas Capital Advisors LLC Purchases 2,492 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Pallas Capital Advisors LLC increased its stake in Axsome Therapeutics, Inc. by 7.1% during the second quarter, now owning approximately $3.94 million worth of shares.
• Several hedge funds are actively increasing their holdings in Axsome, with Nuveen Asset Management boosting its position by 118.1%, now owning shares worth approximately $18.72 million.
• Insider selling has occurred recently, with Director Roger Jeffs selling 20,000 shares for over $2.43 million, indicating a 18.02% decline in his ownership.

Pallas Capital Advisors LLC lifted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 7.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,772 shares of the company's stock after purchasing an additional 2,492 shares during the period. Pallas Capital Advisors LLC owned 0.08% of Axsome Therapeutics worth $3,943,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. BVF Inc. IL boosted its holdings in shares of Axsome Therapeutics by 21.8% during the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock worth $197,130,000 after purchasing an additional 302,157 shares during the period. Invesco Ltd. boosted its holdings in shares of Axsome Therapeutics by 23.8% during the first quarter. Invesco Ltd. now owns 857,001 shares of the company's stock worth $99,952,000 after purchasing an additional 164,537 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Axsome Therapeutics by 4.5% during the first quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock worth $82,023,000 after purchasing an additional 30,122 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock worth $73,176,000 after purchasing an additional 623,717 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Axsome Therapeutics during the first quarter worth about $48,185,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Mark L. Jacobson sold 45,783 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Jeffs sold 13,464 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $123.68, for a total transaction of $1,665,227.52. Following the sale, the director directly owned 57,510 shares of the company's stock, valued at approximately $7,112,836.80. The trade was a 18.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,962 shares of company stock worth $22,849,208. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded down $2.68 on Friday, hitting $115.95. The stock had a trading volume of 616,545 shares, compared to its average volume of 570,324. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -22.87 and a beta of 0.54. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The business's 50-day simple moving average is $112.88 and its two-hundred day simple moving average is $110.34. 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 announced its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. The business 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, research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analyst Ratings Changes

AXSM has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. 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 report on Tuesday, August 5th. Needham & Company LLC restated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. HC Wainwright restated a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Finally, Bank of America raised their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $177.86.

Axsome Therapeutics 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.