TFG Asset Management GP Ltd Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

TFG Asset Management GP Ltd acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,250 shares of the company's stock, valued at approximately $3,490,000. Axsome Therapeutics accounts for approximately 0.7% of TFG Asset Management GP Ltd's investment portfolio, making the stock its 22nd biggest holding. TFG Asset Management GP Ltd owned about 0.08% of Axsome Therapeutics at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. BVF Inc. IL raised its position in Axsome Therapeutics by 32.7% in the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after purchasing an additional 342,064 shares during the period. Geode Capital Management LLC raised its position in Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock valued at $77,228,000 after purchasing an additional 4,079 shares during the period. Invesco Ltd. raised its position in Axsome Therapeutics by 10.8% in the fourth quarter. Invesco Ltd. now owns 692,464 shares of the company's stock valued at $58,589,000 after purchasing an additional 67,285 shares during the period. Hood River Capital Management LLC raised its position in Axsome Therapeutics by 3.2% in the fourth quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock valued at $54,555,000 after purchasing an additional 19,701 shares during the period. Finally, Lazard Asset Management LLC raised its position in Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director now owns 50,387 shares of the company's stock, valued at $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 20,673 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $104.66, for a total value of $2,163,636.18. Following the sale, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $605,248.78. The trade was a 78.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,423 shares of company stock valued at $4,950,619. Insiders own 22.30% of the company's stock.

Analyst Upgrades and Downgrades

AXSM has been the subject of several recent analyst reports. William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Robert W. Baird raised their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Mizuho raised their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Bank of America raised their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald upgraded Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $172.14.

Axsome Therapeutics Stock Performance

AXSM stock traded down $0.45 during midday trading on Friday, reaching $104.19. The company had a trading volume of 152,250 shares, compared to its average volume of 685,676. 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 has a 50 day moving average price of $107.03 and a 200 day moving average price of $106.06. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The firm has a market capitalization of $5.13 billion, a PE ratio of -17.41 and a beta of 0.46.

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.