Rhenman & Partners Asset Management AB Reduces Stake in Axsome Therapeutics, Inc. $AXSM

Rhenman & Partners Asset Management AB reduced its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 33.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,800 shares of the company's stock after selling 58,000 shares during the period. Axsome Therapeutics makes up about 2.0% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 14th biggest position. Rhenman & Partners Asset Management AB owned approximately 0.23% of Axsome Therapeutics worth $20,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company's stock valued at $351,000 after purchasing an additional 65 shares in the last quarter. Xponance LLC lifted its position in Axsome Therapeutics by 2.4% during the fourth quarter. Xponance LLC now owns 3,265 shares of the company's stock valued at $596,000 after purchasing an additional 76 shares in the last quarter. Allworth Financial LP lifted its position in Axsome Therapeutics by 6.6% during the third quarter. Allworth Financial LP now owns 1,442 shares of the company's stock valued at $175,000 after purchasing an additional 89 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Axsome Therapeutics by 1.3% in the fourth quarter. Great Lakes Advisors LLC now owns 6,765 shares of the company's stock valued at $1,236,000 after acquiring an additional 89 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Axsome Therapeutics by 19.6% in the fourth quarter. Covestor Ltd now owns 599 shares of the company's stock valued at $110,000 after acquiring an additional 98 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director directly owned 30,389 shares of the company's stock, valued at approximately $7,566,861. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the sale, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This trade represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 113,686 shares of company stock valued at $26,666,006. 20.60% of the stock is owned by insiders.

Axsome Therapeutics Trading Up 0.6%

Shares of AXSM stock opened at $255.17 on Friday. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $257.92. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The stock's 50-day moving average price is $210.94 and its 200-day moving average price is $181.95. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of -68.41 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AXSM shares. Jefferies Financial Group restated a "buy" rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday. Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $242.00 to $302.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Robert W. Baird boosted their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $256.79.

Axsome Therapeutics 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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