Vanguard Group Inc. Sells 25,537 Shares of Axsome Therapeutics, Inc. $AXSM

Key Points

• Vanguard Group Inc. has decreased its stake in Axsome Therapeutics by 0.7%, selling 25,537 shares, and now owns approximately 7.87% of the company, valued at $452.17 million.
• Several institutional investors have increased their holdings in Axsome Therapeutics, with Principal Financial Group Inc. raising its position by 42.8% in the first quarter.
• Axsome Therapeutics reported a quarterly revenue of $150.04 million, exceeding analysts' expectations, with a consensus negative earnings per share (EPS) forecast of -2.79 for the current year.

Vanguard Group Inc. trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,876,942 shares of the company's stock after selling 25,537 shares during the quarter. Vanguard Group Inc. owned about 7.87% of Axsome Therapeutics worth $452,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its stake in shares of Axsome Therapeutics by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock worth $4,621,000 after acquiring an additional 136 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after buying an additional 162 shares in the last quarter. GF Fund Management CO. LTD. increased its stake 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 during the period. Xponance Inc. increased its stake in shares of Axsome Therapeutics by 8.7% in the first quarter. Xponance Inc. now owns 2,891 shares of the company's stock worth $337,000 after purchasing an additional 232 shares during the period. Finally, Intrust Bank NA increased its stake in Axsome Therapeutics by 9.6% during the first quarter. Intrust Bank NA now owns 3,093 shares of the company's stock valued at $361,000 after acquiring an additional 270 shares during the period. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Royal Bank Of Canada lifted their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Robert W. Baird boosted their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Oppenheimer started coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $178.00.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total transaction of $751,950.00. The disclosure for this sale can be found here. Insiders have sold 90,437 shares of company stock valued at $9,511,745 over the last three months. 22.30% of the stock is owned by insiders.

Axsome Therapeutics Stock Up 0.1%

AXSM stock traded up $0.1150 during trading hours on Tuesday, reaching $111.2450. 388,083 shares of the stock were exchanged, compared to its average volume of 772,670. The firm's 50-day moving average is $105.65 and its 200-day moving average is $111.03. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The company has a market cap of $5.55 billion, a price-to-earnings ratio of -21.93 and a beta of 0.51.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The company had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Axsome Therapeutics 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.