Virtu Financial LLC Invests $2.84 Million in Axsome Therapeutics, Inc. $AXSM

Key Points

• Virtu Financial LLC opened a new position in Axsome Therapeutics in the fourth quarter, buying 15,573 shares worth about $2.84 million.
• Institutional interest in AXSM remains strong, with investors such as Vanguard, Pictet, and others adding stakes; overall, 81.49% of the stock is owned by institutions and hedge funds.
• Wall Street sentiment is broadly positive: analysts currently have a Moderate Buy consensus on Axsome Therapeutics, with an average target price of $258.95, even as some insiders recently sold shares.

Virtu Financial LLC bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,573 shares of the company's stock, valued at approximately $2,844,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company's stock worth $507,739,000 after buying an additional 235,626 shares during the last quarter. Franklin Street Advisors Inc. NC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth $1,826,000. Aberdeen Group plc increased its stake in shares of Axsome Therapeutics by 15.5% in the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company's stock worth $11,495,000 after acquiring an additional 12,732 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Axsome Therapeutics by 107.7% in the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company's stock worth $5,367,000 after acquiring an additional 22,914 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company's stock worth $79,643,000 after acquiring an additional 73,925 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXSM. HC Wainwright reissued a "buy" rating on shares of Axsome Therapeutics in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 11th. Mizuho increased their price target on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird increased their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.95.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $250.50 on Friday. The stock has a market cap of $12.89 billion, a PE ratio of -67.16 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $260.19. The stock has a fifty day simple moving average of $217.59 and a 200-day simple moving average of $185.01.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.Axsome Therapeutics's revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director directly owned 35,140 shares of the company's stock, valued at approximately $8,092,742. The trade was a 14.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nick Pizzie sold 33,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the transaction, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,686 shares of company stock valued at $26,666,006 over the last quarter. 20.60% of the stock is owned by insiders.

Axsome Therapeutics Profile

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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