The Manufacturers Life Insurance Company purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 118,999 shares of the company's stock, valued at approximately $29,127,000. The Manufacturers Life Insurance Company owned approximately 0.23% of Axsome Therapeutics as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of AXSM. Norges Bank acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $90,490,000. Axiom Investors LLC DE increased its position in shares of Axsome Therapeutics by 28.7% during the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company's stock valued at $11,578,000 after purchasing an additional 14,137 shares during the period. Legato Capital Management LLC raised its stake in shares of Axsome Therapeutics by 90.6% in the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company's stock valued at $1,758,000 after buying an additional 4,576 shares in the last quarter. BNP Paribas Financial Markets raised its position in Axsome Therapeutics by 60.1% in the fourth quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company's stock worth $55,593,000 after purchasing an additional 114,282 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in shares of Axsome Therapeutics in the 2nd quarter worth approximately $759,695,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Axsome Therapeutics news, Director Mark Coleman sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director owned 35,140 shares in the company, valued at $8,092,742. This represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Mahony sold 300 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the sale, the director owned 1,129 shares in the company, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 194,766 shares of company stock valued at $45,284,886. 20.60% of the stock is owned by insiders.
Axsome Therapeutics Price Performance
Shares of NASDAQ AXSM opened at $206.27 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The business has a 50-day moving average of $228.46 and a 200-day moving average of $206.78. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of -55.01 and a beta of 0.65. Axsome Therapeutics, Inc. has a fifty-two week low of $112.90 and a fifty-two week high of $260.19.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently issued reports on AXSM. Wells Fargo & Company lifted their price target on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. HC Wainwright reaffirmed a "buy" rating on shares of Axsome Therapeutics in a research note on Monday. Morgan Stanley increased their price objective on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an "equal weight" rating in a report on Tuesday, August 11th. UBS Group restated a "buy" rating on shares of Axsome Therapeutics in a report on Monday. Finally, Guggenheim lifted their price target on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and an average price target of $267.60.
Check Out Our Latest Stock Analysis on AXSM
Axsome Therapeutics Profile
(
Free Report)
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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