Versor Investments LP Invests $2.29 Million in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• Versor Investments LP has invested approximately $2.29 million in Axsome Therapeutics, purchasing 19,615 shares of the stock.
• Significant movements among institutional investors include Assenagon Asset Management's remarkable 16,852.7% increase in its holdings, now owning 627,418 shares valued at about $73.2 million.
• Analysts have provided positive ratings for Axsome Therapeutics, with firm price target increases and a consensus rating of "Buy" along with an average target price of $178.00.

Versor Investments LP purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,615 shares of the company's stock, valued at approximately $2,288,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXSM. Assenagon Asset Management S.A. increased its holdings in Axsome Therapeutics by 16,852.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after purchasing an additional 623,717 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in Axsome Therapeutics in the 4th quarter valued at approximately $39,767,000. Lazard Asset Management LLC increased its holdings in Axsome Therapeutics by 525.7% in the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after purchasing an additional 451,737 shares during the last quarter. Nuveen LLC acquired a new stake in Axsome Therapeutics in the 1st quarter valued at approximately $48,185,000. Finally, BVF Inc. IL increased its holdings in Axsome Therapeutics by 32.7% in the 4th quarter. BVF Inc. IL now owns 1,388,064 shares of the company's stock valued at $117,444,000 after purchasing an additional 342,064 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was 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. Over the last 90 days, insiders have sold 93,437 shares of company stock valued at $9,834,215. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Stock Up 0.4%

Shares of NASDAQ AXSM opened at $109.21 on Friday. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. The company has a market capitalization of $5.45 billion, a PE ratio of -21.54 and a beta of 0.51. 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 firm's 50-day moving average is $105.62 and its two-hundred day moving average is $110.99.

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

Analyst Ratings Changes

Several analysts recently weighed in on AXSM shares. Robert W. Baird lifted their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Oppenheimer started 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. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Bank of America raised their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $178.00.

Axsome Therapeutics Company 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.

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