Rhumbline Advisers Has $6.39 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Rhumbline Advisers lifted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,760 shares of the company's stock after buying an additional 3,515 shares during the period. Rhumbline Advisers owned 0.11% of Axsome Therapeutics worth $6,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC boosted its holdings in shares of Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock valued at $1,356,000 after acquiring an additional 5,087 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $14,771,000. Charles Schwab Investment Management Inc. lifted its position in Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock worth $27,755,000 after buying an additional 5,438 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $395,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Axsome Therapeutics by 20.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company's stock worth $4,877,000 after purchasing an additional 9,928 shares during the last quarter. Institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 20,673 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $104.66, for a total value of $2,163,636.18. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at $605,248.78. This represents a 78.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Coleman sold 3,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total transaction of $322,470.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 72,423 shares of company stock valued at $7,711,619. 22.30% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Down 2.0%

AXSM traded down $2.15 during trading hours on Friday, hitting $104.10. 425,883 shares of the company's stock were exchanged, compared to its average volume of 677,321. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The stock's 50-day moving average is $106.45 and its two-hundred day moving average is $107.00. Axsome Therapeutics, Inc. has a 1-year low of $72.02 and a 1-year high of $139.13. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of -17.38 and a beta of 0.47.

Analyst Ratings Changes

A number of research firms recently issued reports on AXSM. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Morgan Stanley boosted their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Mizuho boosted their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Finally, Needham & Company LLC decreased their price objective on shares of Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating for the company in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $172.33.

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.