Peregrine Capital Management LLC Trims Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Peregrine Capital Management LLC cut its stake in Axsome Therapeutics by 27.7% in Q4, selling 17,888 shares and ending the period with 46,633 shares valued at about $8.52 million.
• Company insiders have been net sellers recently — insiders sold 100,288 shares worth $17.14 million over the last quarter (including CEO Herriot Tabuteau's 32,410-share sale) though insiders still own 22.30% of the company.
• Analysts remain largely bullish, with a consensus rating of “Moderate Buy” and an average price target of $218.06, versus a recent trading level near $182.72.

Peregrine Capital Management LLC lessened its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 27.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,633 shares of the company's stock after selling 17,888 shares during the period. Peregrine Capital Management LLC owned 0.09% of Axsome Therapeutics worth $8,517,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. HB Wealth Management LLC increased its stake in Axsome Therapeutics by 136.7% in the 4th quarter. HB Wealth Management LLC now owns 34,102 shares of the company's stock worth $6,228,000 after buying an additional 19,696 shares during the period. M&T Bank Corp increased its stake in Axsome Therapeutics by 2,553.8% in the 4th quarter. M&T Bank Corp now owns 49,466 shares of the company's stock worth $8,277,000 after buying an additional 47,602 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Axsome Therapeutics by 1.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,858 shares of the company's stock worth $12,576,000 after buying an additional 956 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Axsome Therapeutics by 6.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,464 shares of the company's stock worth $1,363,000 after buying an additional 475 shares during the period. Finally, First Horizon Corp increased its stake in Axsome Therapeutics by 117.8% in the 4th quarter. First Horizon Corp now owns 601 shares of the company's stock worth $110,000 after buying an additional 325 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on AXSM shares. Jefferies Financial Group set a $215.00 price target on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Oppenheimer reaffirmed an "outperform" rating and issued a $220.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, December 31st. Wolfe Research began coverage on shares of Axsome Therapeutics in a research report on Monday, February 23rd. They set an "outperform" rating and a $230.00 target price on the stock. Mizuho set a $230.00 target price on shares of Axsome Therapeutics in a research report on Thursday, February 19th. Finally, Piper Sandler raised their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $218.06.

Insider Buying and Selling at Axsome Therapeutics

In other news, insider Ari Maizel sold 7,500 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the transaction, the insider owned 7,500 shares of the company's stock, valued at $1,368,150. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Herriot Tabuteau sold 32,410 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,341,702.40. The trade was a 81.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 100,288 shares of company stock worth $17,138,187. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Trading Down 2.0%

NASDAQ AXSM opened at $182.72 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -49.52 and a beta of 0.48. The company's 50-day simple moving average is $170.28 and its two-hundred day simple moving average is $159.70. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating analysts' consensus estimates of ($0.70) by $0.14. The business had revenue of $196.00 million for the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The company's revenue for the quarter was up 65.0% compared to the same quarter last year. Equities analysts forecast that Axsome Therapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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