ProShare Advisors LLC Raises Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

ProShare Advisors LLC increased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 30.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,664 shares of the company's stock after purchasing an additional 2,942 shares during the quarter. ProShare Advisors LLC's holdings in Axsome Therapeutics were worth $1,072,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AXSM. Assetmark Inc. acquired a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $52,000. R Squared Ltd acquired a new stake in Axsome Therapeutics in the fourth quarter valued at $64,000. Aquatic Capital Management LLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth about $76,000. KBC Group NV lifted its stake in Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Axsome Therapeutics by 11.6% during the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after purchasing an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock traded up $0.72 during midday trading on Monday, reaching $105.07. The company's stock had a trading volume of 467,579 shares, compared to its average volume of 689,220. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The firm has a market capitalization of $5.17 billion, a PE ratio of -17.54 and a beta of 0.46. The stock's 50 day simple moving average is $108.86 and its 200 day simple moving average is $105.89.

Wall Street Analysts Forecast Growth

AXSM has been the topic of several research reports. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a research report on Wednesday, May 14th. Truist Financial raised their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "buy" rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 price target for the company. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $172.14.

Insiders Place Their Bets

In related news, Director Mark Coleman sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total value of $322,470.00. Following the completion of the transaction, the director now directly owns 54,137 shares of the company's stock, valued at $5,819,186.13. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.30% of the stock is currently owned by company insiders.

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.