Point72 Europe London LLP Sells 26,684 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Point72 Europe London LLP has significantly cut its holdings in Axsome Therapeutics, Inc. by 63.9%, reducing its shares to 15,050, valued at approximately $1.76 million.
• Despite the reduction in holdings by Point72, other institutional investors like Mutual of America Capital Management and GF Fund Management have increased their positions in Axsome Therapeutics, indicating diverse investor interests.
• Analysts remain optimistic about Axsome Therapeutics, with multiple upgrades leading to an average price target of $178 and several "outperform" ratings across different research reports.

Point72 Europe London LLP lessened its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 63.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,050 shares of the company's stock after selling 26,684 shares during the quarter. Point72 Europe London LLP's holdings in Axsome Therapeutics were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics in the first quarter valued at about $25,000. Quantbot Technologies LP acquired a new position in shares of Axsome Therapeutics during the first quarter valued at about $31,000. NBC Securities Inc. purchased a new stake in shares of Axsome Therapeutics during the first quarter valued at $31,000. AlphaQuest LLC purchased a new position in shares of Axsome Therapeutics in the first quarter worth about $38,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Axsome Therapeutics during the 1st quarter valued at about $41,000. Institutional investors own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 4th. 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. Royal Bank Of Canada lifted their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research report on Tuesday. They set an "overweight" rating and a $163.00 price target for the company. Finally, 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. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $177.86.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded down $1.47 during trading on Wednesday, hitting $122.00. 576,593 shares of the company were exchanged, compared to its average volume of 507,815. The firm has a 50 day moving average price of $109.35 and a 200 day moving average price of $111.09. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of -24.06 and a beta of 0.54. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.08. The business had revenue of $150.04 million for the quarter, compared to analysts' expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Roger Jeffs sold 13,464 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $123.68, for a total transaction of $1,665,227.52. Following the completion of the sale, the director owned 57,510 shares of the company's stock, valued at $7,112,836.80. This represents a 18.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer owned 5,783 shares of the company's stock, valued at $638,674.52. This represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,172 shares of company stock worth $13,386,040 over the last 90 days. Company insiders own 22.40% 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.