Vident Advisory LLC Acquires New Position in Axsome Therapeutics, Inc. $AXSM

Key Points

• Vident Advisory LLC has made a new investment in Axsome Therapeutics, acquiring 3,083 shares valued at approximately $360,000.
• High levels of institutional ownership are noted, with 81.49% of the stock currently held by institutional investors and hedge funds.
• Insider transactions showed significant stock sales, with directors Mark E. Saad and Roger Jeffs selling a total of over $2.8 million in shares recently, representing notable decreases in their positions.

Vident Advisory LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,083 shares of the company's stock, valued at approximately $360,000.

Several other large investors have also recently bought and sold shares of AXSM. Cetera Investment Advisers increased its holdings in Axsome Therapeutics by 19.5% in the fourth quarter. Cetera Investment Advisers now owns 7,109 shares of the company's stock valued at $601,000 after buying an additional 1,160 shares during the last quarter. Deutsche Bank AG boosted its stake in Axsome Therapeutics by 37.4% in the fourth quarter. Deutsche Bank AG now owns 120,547 shares of the company's stock valued at $10,199,000 after acquiring an additional 32,789 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Axsome Therapeutics by 525.7% in the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock valued at $45,492,000 after acquiring an additional 451,737 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Axsome Therapeutics by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,921 shares of the company's stock valued at $1,770,000 after acquiring an additional 986 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Axsome Therapeutics by 118.1% in the fourth quarter. Nuveen Asset Management LLC now owns 221,202 shares of the company's stock valued at $18,716,000 after acquiring an additional 119,780 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research note on Monday, August 4th. HC Wainwright reiterated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Oppenheimer assumed coverage on Axsome Therapeutics in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price for the company. Morgan Stanley assumed coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price for the company. Finally, Wells Fargo & Company raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $177.86.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total value of $751,950.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Coleman purchased 1,575 shares of the firm's stock in a transaction on Monday, September 8th. The stock was bought at an average price of $127.28 per share, for a total transaction of $200,466.00. Following the acquisition, the director owned 48,212 shares in the company, valued at $6,136,423.36. The trade was a 3.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 100,299 shares of company stock worth $11,766,554 in the last 90 days. Company insiders own 22.30% of the company's stock.

Axsome Therapeutics Trading Down 3.2%

Shares of AXSM traded down $3.92 during mid-day trading on Friday, reaching $119.04. The company had a trading volume of 402,159 shares, compared to its average volume of 756,614. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -23.49 and a beta of 0.54. The firm has a fifty day simple moving average of $111.93 and a 200-day simple moving average of $110.87. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66.

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

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.