Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Privium Fund Management B.V.

Key Points

• Privium Fund Management B.V. has reduced its stake in Axsome Therapeutics by 15.3%, now holding a position valued at $6.15 million after selling 9,500 shares in the first quarter.
• During the same period, several institutional investors, including PNC Financial Services and Federated Hermes, increased their holdings in Axsome, indicating growing interest in the stock.
• Analysts maintain a positive outlook on Axsome Therapeutics, with a consensus price target of $172.33 and multiple firms rating the stock as a "buy" or "strong buy."

Privium Fund Management B.V. cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 15.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,732 shares of the company's stock after selling 9,500 shares during the period. Axsome Therapeutics comprises about 1.6% of Privium Fund Management B.V.'s holdings, making the stock its 14th largest position. Privium Fund Management B.V. owned about 0.11% of Axsome Therapeutics worth $6,150,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AXSM. NBC Securities Inc. purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at $31,000. Neo Ivy Capital Management acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $41,000. Raiffeisen Bank International AG purchased a new position in Axsome Therapeutics in the 4th quarter valued at about $51,000. Aquatic Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $86,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction dated 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 sale, the chief operating officer directly owned 5,783 shares in the company, valued at $638,674.52. This trade represents 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 the company's stock in a transaction dated 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. In the last 90 days, insiders have sold 93,437 shares of company stock valued at $9,834,215. Insiders own 22.40% of the company's stock.

Analyst Upgrades and Downgrades

AXSM has been the topic of several recent analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Morgan Stanley began coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. Robert W. Baird lifted their price objective on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Finally, Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of "Buy" and a consensus target price of $173.13.

Axsome Therapeutics Stock Down 0.4%

Axsome Therapeutics stock traded down $0.37 during midday trading on Wednesday, hitting $103.23. The stock had a trading volume of 415,318 shares, compared to its average volume of 792,985. The business has a fifty day moving average price of $105.86 and a 200 day moving average price of $110.70. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The stock has a market cap of $5.08 billion, a P/E ratio of -20.36 and a beta of 0.51. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 288.83% and a negative net margin of 49.88%. The business had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

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.