Rhumbline Advisers lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,760 shares of the company's stock after purchasing an additional 3,515 shares during the quarter. Rhumbline Advisers owned about 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 added to or reduced their stakes in AXSM. Raiffeisen Bank International AG purchased a new stake in shares of Axsome Therapeutics in the fourth quarter worth approximately $51,000. Assetmark Inc. bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at approximately $52,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter valued at $76,000. GF Fund Management CO. LTD. purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $86,000. Finally, Xponance Inc. increased its holdings in Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after acquiring an additional 277 shares during the period. Institutional investors own 81.49% of the company's stock.
Axsome Therapeutics Stock Performance
NASDAQ AXSM traded down $1.83 on Thursday, hitting $106.25. 447,175 shares of the company traded hands, compared to its average volume of 677,720. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The business's 50 day moving average price is $106.32 and its 200-day moving average price is $106.90. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of -17.74 and a beta of 0.47. Axsome Therapeutics, Inc. has a 52-week low of $70.52 and a 52-week high of $139.13.
Insider Transactions at Axsome Therapeutics
In related news, Director Mark Coleman sold 3,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were 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 owns 54,137 shares of the company's stock, valued at approximately $5,819,186.13. This represents a 5.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Mark L. Jacobson sold 20,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $103.45, for a total value of $2,069,000.00. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $598,251.35. This represents a 77.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,423 shares of company stock valued at $7,711,619 over the last three months. Corporate insiders own 22.30% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Needham & Company LLC decreased their target price on Axsome Therapeutics from $153.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday. HC Wainwright reissued a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. Morgan Stanley lifted their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Royal Bank of Canada reduced their price target on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. One investment 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.com, the company has a consensus rating of "Buy" and a consensus target price of $172.33.
Check Out Our Latest Report on Axsome Therapeutics
About Axsome Therapeutics
(
Free Report)
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.
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