Van ECK Associates Corp decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,309 shares of the company's stock after selling 8,364 shares during the period. Van ECK Associates Corp owned about 0.06% of Axsome Therapeutics worth $7,174,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Axsome Therapeutics during the fourth quarter worth $31,000. Hollencrest Capital Management increased its stake in shares of Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company's stock valued at $34,000 after purchasing an additional 160 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth $37,000. Advisory Services Network LLC acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth $40,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Axsome Therapeutics by 602.6% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock worth $50,000 after buying an additional 235 shares during the last quarter. 81.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AXSM. Royal Bank Of Canada reduced their price target on shares of Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Morgan Stanley upped their price objective on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Needham & Company LLC raised their target price on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $267.60.
Check Out Our Latest Stock Analysis on Axsome Therapeutics
Insider Activity at Axsome Therapeutics
In related news, Director Susan Mahony sold 300 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the sale, the director owned 1,129 shares of the company's stock, valued at $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $1,546,644.55. The trade was a 39.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 183,229 shares of company stock worth $42,666,176 over the last quarter. 20.60% of the stock is owned by company insiders.
Axsome Therapeutics Price Performance
Shares of NASDAQ AXSM opened at $202.83 on Wednesday. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The firm has a fifty day simple moving average of $225.66 and a 200 day simple moving average of $207.10. The company has a market capitalization of $10.62 billion, a PE ratio of -54.09 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. On average, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.
Axsome Therapeutics Profile
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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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