29,544 Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Acquired by Trek Financial LLC

Trek Financial LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 29,544 shares of the company's stock, valued at approximately $3,446,000. Trek Financial LLC owned about 0.06% of Axsome Therapeutics at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AXSM. BVF Inc. IL lifted 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 acquiring an additional 342,064 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 4,079 shares during the last quarter. Invesco Ltd. raised its holdings in shares of 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 buying an additional 67,285 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of 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 buying an additional 19,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after buying an additional 623,717 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark Coleman sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the sale, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Hunter R. Murdock sold 6,014 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The disclosure for this sale can be found here. Insiders have sold 93,437 shares of company stock worth $9,834,215 over the last ninety days. 22.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of research reports. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price for the company. 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. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Finally, Royal Bank Of Canada lowered their target price on shares of Axsome Therapeutics from $193.00 to $186.00 and set an "outperform" rating on the stock in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $172.33.

Axsome Therapeutics Price Performance

Shares of AXSM stock traded down $1.75 during trading hours on Friday, hitting $108.98. The company's stock had a trading volume of 978,142 shares, compared to its average volume of 668,909. The business has a fifty day moving average of $106.51 and a 200-day moving average of $108.27. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of -18.89 and a beta of 0.46. Axsome Therapeutics, Inc. has a twelve month low of $72.21 and a twelve month high of $139.13. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48.

About Axsome Therapeutics

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.