Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 31.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,721 shares of the company's stock after selling 27,466 shares during the quarter. Peregrine Capital Management LLC owned about 0.12% of Axsome Therapeutics worth $6,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pitcairn Co. raised its stake in shares of Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company's stock worth $386,000 after purchasing an additional 148 shares during the last quarter. Meridian Wealth Management LLC raised its stake in shares of Axsome Therapeutics by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after purchasing an additional 150 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after purchasing an additional 162 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after purchasing an additional 164 shares during the last quarter. Finally, Intrust Bank NA raised its stake in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after purchasing an additional 183 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction 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 sale, the chief operating officer owned 5,783 shares of the company's stock, valued at $638,674.52. The trade was a 81.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Hunter R. Murdock sold 6,014 shares of Axsome Therapeutics stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. 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 in the last 90 days. 22.30% of the stock is owned by insiders.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded up $0.94 during mid-day trading on Wednesday, hitting $103.91. The stock had a trading volume of 399,410 shares, compared to its average volume of 670,196. The firm's 50 day moving average is $106.65 and its 200 day moving average is $107.37. Axsome Therapeutics, Inc. has a twelve month low of $72.21 and a twelve 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. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of -18.01 and a beta of 0.46.

Wall Street Analyst Weigh In

AXSM has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Axsome Therapeutics in a research note on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective for the company. Robert W. Baird raised their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Mizuho raised their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.