Penserra Capital Management LLC Acquires New Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Penserra Capital Management LLC bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 19,112 shares of the company's stock, valued at approximately $2,229,000.

A number of other hedge funds have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in Axsome Therapeutics during the 1st quarter valued at about $31,000. Raiffeisen Bank International AG bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $51,000. Assetmark Inc. purchased a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $52,000. Aquatic Capital Management LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics during the 4th quarter worth approximately $86,000. Institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 7,500 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total value of $751,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Coleman sold 3,750 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the transaction, the director owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,437 shares of company stock worth $9,834,215. 22.30% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded up $3.94 during trading hours on Wednesday, hitting $112.35. 886,863 shares of the stock were exchanged, compared to its average volume of 668,852. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48. The stock has a 50-day moving average of $106.61 and a 200 day moving average of $107.95. The company has a market cap of $5.53 billion, a price-to-earnings ratio of -19.47 and a beta of 0.46. Axsome Therapeutics, Inc. has a 12-month low of $72.21 and a 12-month high of $139.13.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank Of Canada reduced their price objective on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Needham & Company LLC decreased their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Morgan Stanley assumed coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price on the stock. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of "Buy" and an average price target of $172.33.

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.