PDT Partners LLC Increases Stake in Axsome Therapeutics, Inc. $AXSM

Key Points

• PDT Partners LLC significantly increased its holdings in Axsome Therapeutics by 1,120.5%, acquiring 47,004 shares in the first quarter, now owning a total of 51,199 shares valued at approximately $5.97 million.
• Multiple institutional investors have adjusted their positions, with BNP Paribas Financial Markets growing their stake by 1,251.9%, bringing their total to 185,661 shares worth about $15.71 million.
• Axsome Therapeutics received a series of positive analyst ratings, with an average consensus target price of $178.00 and 15 analysts rating the stock as a "Buy" or "Strong Buy."

PDT Partners LLC raised its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 1,120.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,199 shares of the company's stock after purchasing an additional 47,004 shares during the period. PDT Partners LLC owned 0.10% of Axsome Therapeutics worth $5,971,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AXSM. Assenagon Asset Management S.A. boosted its holdings in Axsome Therapeutics by 16,852.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after purchasing an additional 623,717 shares during the period. Lazard Asset Management LLC boosted its holdings in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares during the period. Nuveen LLC bought a new position in Axsome Therapeutics in the 1st quarter valued at $48,185,000. 1832 Asset Management L.P. bought a new position in Axsome Therapeutics in the 1st quarter valued at $42,360,000. Finally, BVF Inc. IL raised its position in shares of Axsome Therapeutics by 32.7% during the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after buying an additional 342,064 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark E. Saad sold 9,127 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the completion of the transaction, the director directly owned 10,002 shares of the company's stock, valued at approximately $1,250,950.14. This represents a 47.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total transaction of $751,950.00. The disclosure for this sale can be found here. In the last three months, insiders sold 125,299 shares of company stock valued at $14,527,554. 22.30% of the stock is currently owned by insiders.

Axsome Therapeutics Trading Up 0.6%

Shares of AXSM stock traded up $0.76 during mid-day trading on Friday, reaching $125.17. The stock had a trading volume of 506,617 shares, compared to its average volume of 510,939. The firm has a market capitalization of $6.25 billion, a PE ratio of -24.69 and a beta of 0.54. The stock's 50-day moving average price is $110.23 and its two-hundred day moving average price is $111.02. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. 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 data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. The firm 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%. Equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AXSM has been the topic of several research reports. Oppenheimer initiated 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 company an "outperform" rating in a research report on Tuesday, August 5th. Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Bank of America raised their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, HC Wainwright restated a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics presently has an average rating of "Buy" and an average price target of $177.86.

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.