Trek Financial LLC Makes New $3.45 Million Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Trek Financial LLC bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 29,544 shares of the company's stock, valued at approximately $3,446,000. Trek Financial LLC owned 0.06% of Axsome Therapeutics as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Pitcairn Co. grew its stake in shares of Axsome Therapeutics by 3.4% during the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock worth $386,000 after acquiring an additional 148 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Axsome Therapeutics by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after purchasing an additional 162 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after purchasing an additional 164 shares in the last quarter. Intrust Bank NA lifted its position in shares of Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after purchasing an additional 183 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in shares of Axsome Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock worth $145,000 after purchasing an additional 223 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXSM has been the topic of a number of research reports. Royal Bank Of Canada cut their price objective 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. Oppenheimer initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price on the stock. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 target price on the stock. Mizuho boosted their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $172.33.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded up $0.91 during trading on Tuesday, reaching $108.41. The company's stock had a trading volume of 622,917 shares, compared to its average volume of 668,610. The business's 50-day moving average price is $106.64 and its 200-day moving average price is $107.92. The firm has a market cap of $5.34 billion, a PE ratio of -18.79 and a beta of 0.46. Axsome Therapeutics, Inc. has a 52 week low of $72.21 and a 52 week high of $139.13. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

Insiders Place Their Bets

In other news, Director Mark Coleman sold 3,750 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 50,387 shares in the company, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the transaction, the chief operating officer owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,437 shares of company stock worth $9,834,215 in the last 90 days. Company insiders own 22.40% of the company's stock.

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.