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

Penserra Capital Management LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,112 shares of the company's stock, valued at approximately $2,229,000.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $31,000. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $51,000. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $52,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $76,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Wall Street Analyst Weigh In

AXSM has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Mizuho increased their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $172.33.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction on 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the transaction, the chief operating officer directly owned 5,783 shares in the company, valued at approximately $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock valued at $9,834,215 over the last three months. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Trading Up 4.6%

Shares of NASDAQ AXSM traded up $4.99 during midday trading on Wednesday, reaching $113.40. 105,577 shares of the stock were exchanged, compared to its average volume of 665,520. The business has a 50-day simple moving average of $106.61 and a two-hundred day simple moving average of $107.92. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -19.58 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. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96.

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.