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

Penserra Capital Management LLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,112 shares of the company's stock, valued at approximately $2,229,000.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on AXSM shares. Robert W. Baird raised their price target on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price target for the company. Jefferies Financial Group began coverage on Axsome Therapeutics in a research report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $172.33.

Axsome Therapeutics Stock Performance

Shares of AXSM stock traded down $1.75 during trading hours on Friday, reaching $108.98. The company had a trading volume of 978,142 shares, compared to its average volume of 668,909. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03. Axsome Therapeutics, Inc. has a one year low of $72.21 and a one year high of $139.13. The firm has a market cap of $5.37 billion, a PE ratio of -18.89 and a beta of 0.46. The business has a fifty day moving average price of $106.51 and a 200-day moving average price of $108.27.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction that occurred on 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 approximately $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 can be accessed through the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. Insiders sold 93,437 shares of company stock valued at $9,834,215 over the last 90 days. Company insiders own 22.30% of the company's stock.

About Axsome Therapeutics

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.