Virtu Financial LLC Takes $931,000 Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• Virtu Financial LLC acquired a new stake in Axsome Therapeutics, Inc., purchasing 7,986 shares worth approximately $931,000 in the first quarter of the year.
• Axsome Therapeutics reported a quarterly revenue of $150.04 million, exceeding analysts' expectations of $140.02 million, and its earnings per share (EPS) of ($0.92) surpassed the consensus estimate.
• Several analysts have recently upgraded their ratings for Axsome Therapeutics, with target prices ranging from $150.00 to $190.00, indicating a generally positive outlook on the stock.

Virtu Financial LLC acquired a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,986 shares of the company's stock, valued at approximately $931,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Axsome Therapeutics in the first quarter worth approximately $31,000. Neo Ivy Capital Management acquired a new position in Axsome Therapeutics during the 1st quarter valued at $41,000. Raiffeisen Bank International AG acquired a new position in Axsome Therapeutics during the 4th quarter valued at $51,000. Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at $76,000. Finally, Assetmark Inc. raised its stake in Axsome Therapeutics by 61.5% during the 1st quarter. Assetmark Inc. now owns 987 shares of the company's stock valued at $115,000 after purchasing an additional 376 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axsome Therapeutics news, General Counsel Hunter R. Murdock sold 7,500 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total transaction of $751,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer directly owned 5,783 shares of the company's stock, valued at approximately $638,674.52. The trade was a 81.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,437 shares of company stock valued at $9,834,215. 22.30% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Performance

AXSM stock traded down $0.64 during midday trading on Thursday, reaching $108.75. 426,763 shares of the company were exchanged, compared to its average volume of 779,326. 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 business has a 50-day moving average price of $105.71 and a two-hundred day moving average price of $110.86. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -21.45 and a beta of 0.51.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXSM. Morgan Stanley assumed coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective for the company. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 target price on the stock. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $178.00.

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.