Royce & Associates LP Has $3.53 Million Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• Royce & Associates LP has reduced its position in Axsome Therapeutics by 18.2%, ending the first quarter with 30,257 shares valued at approximately $3.5 million.
• Several other institutional investors have significantly increased their holdings in Axsome Therapeutics, with Assenagon Asset Management boosting its stake by over 16,000% during the same period.
• Analysts have set a consensus price target of $172.33 for Axsome Therapeutics, with many rating the stock as a buy, highlighting positive market sentiment despite recent share price fluctuations.

Royce & Associates LP lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 18.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,257 shares of the company's stock after selling 6,743 shares during the quarter. Royce & Associates LP owned about 0.06% of Axsome Therapeutics worth $3,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. bought a new position in Axsome Therapeutics in the 1st quarter valued at about $31,000. Raiffeisen Bank International AG bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth $51,000. Aquatic Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $76,000. GF Fund Management CO. LTD. acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $86,000. Finally, Bank Hapoalim BM bought a new position in Axsome Therapeutics during the first quarter valued at about $204,000. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Stock Up 1.3%

NASDAQ:AXSM traded up $1.34 during trading hours on Wednesday, reaching $101.75. The company's stock had a trading volume of 306,442 shares, compared to its average volume of 790,381. The company has a debt-to-equity ratio of 3.48, a current ratio of 2.03 and a quick ratio of 1.96. The company has a market cap of $5.01 billion, a price-to-earnings ratio of -17.74 and a beta of 0.46. Axsome Therapeutics, Inc. has a one year low of $72.21 and a one year high of $139.13. The business's 50-day moving average is $106.03 and its 200-day moving average is $110.27.

Insider Transactions at Axsome Therapeutics

In other news, General Counsel Hunter R. Murdock sold 6,014 shares of the business's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,437 shares of company stock worth $9,834,215. 22.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AXSM shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They issued a "buy" rating and a $200.00 price target on the stock. Royal Bank Of Canada dropped their price target on Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a report on Thursday, June 12th. Finally, Morgan Stanley started coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price objective for the company. One 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 stock. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of "Buy" and a consensus price target 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.