Peregrine Capital Management LLC Has $6.97 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Peregrine Capital Management LLC cut its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,721 shares of the company's stock after selling 27,466 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.12% of Axsome Therapeutics worth $6,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AXSM. Intech Investment Management LLC grew its stake in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock valued at $1,356,000 after purchasing an additional 5,087 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $14,771,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Axsome Therapeutics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock valued at $27,755,000 after buying an additional 5,438 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Axsome Therapeutics by 20.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock valued at $4,877,000 after buying an additional 9,928 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares of the company's stock, valued at $638,674.52. This represents a 81.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was 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 in the company, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,437 shares of company stock valued at $9,834,215. 22.30% of the stock is owned by company insiders.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded up $1.45 during trading hours on Friday, hitting $105.36. 245,787 shares of the company's stock were exchanged, compared to its average volume of 670,169. Axsome Therapeutics, Inc. has a 1-year low of $72.21 and a 1-year 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 $5.19 billion, a price-to-earnings ratio of -18.26 and a beta of 0.46. The company's 50-day moving average price is $106.63 and its 200-day moving average price is $107.56.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AXSM shares. Mizuho raised their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Jefferies Financial Group assumed coverage on shares of 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 increased their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, HC Wainwright restated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $172.33.

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.