Readystate Asset Management LP Takes $6.95 Million Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Readystate Asset Management LP bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 59,553 shares of the company's stock, valued at approximately $6,946,000. Readystate Asset Management LP owned 0.12% of Axsome Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $51,000. Aquatic Capital Management LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $76,000. GF Fund Management CO. LTD. bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $86,000. Finally, Bank Hapoalim BM bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth approximately $204,000. Institutional investors own 81.49% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Mizuho raised their price objective on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Needham & Company LLC dropped their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a report on Monday, June 9th. Oppenheimer began coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price for the company. Royal Bank Of Canada dropped their target price on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating for the company in a report on Thursday, June 12th. Finally, Jefferies Financial Group began coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 target price for the company. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $172.33.

Insider Activity

In other news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director directly owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Hunter R. Murdock sold 6,014 shares of Axsome Therapeutics stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $100.12, for a total value of $602,121.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,437 shares of company stock valued at $9,834,215. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Price Performance

AXSM stock traded down $4.14 during midday trading on Friday, reaching $100.83. 854,936 shares of the company's stock traded hands, compared to its average volume of 796,386. The company has a 50-day simple moving average of $106.48 and a two-hundred day simple moving average of $109.69. Axsome Therapeutics, Inc. has a 1-year low of $72.21 and a 1-year high of $139.13. The company has a market cap of $4.96 billion, a price-to-earnings ratio of -17.47 and a beta of 0.46. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

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.