Wellington Management Group LLP Trims Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Wellington Management Group LLP reduced its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 673,157 shares of the company's stock after selling 69,588 shares during the quarter. Wellington Management Group LLP owned 1.38% of Axsome Therapeutics worth $56,956,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth $2,599,000. Intech Investment Management LLC boosted its holdings in Axsome Therapeutics by 46.5% during the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock valued at $1,356,000 after purchasing an additional 5,087 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $14,771,000. Charles Schwab Investment Management Inc. boosted its holdings in Axsome Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock valued at $27,755,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Axsome Therapeutics during the fourth quarter valued at approximately $395,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the sale, the director now owns 50,387 shares of the company's stock, valued at approximately $5,314,316.89. This trade represents a 6.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 20,673 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $104.66, for a total value of $2,163,636.18. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at approximately $605,248.78. This trade represents a 78.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,423 shares of company stock worth $4,950,619. Corporate insiders own 22.30% of the company's stock.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research analyst reports. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Leerink Partners lifted their target price on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $173.00.

Axsome Therapeutics Stock Up 2.2%

Shares of AXSM traded up $2.39 during trading hours on Tuesday, reaching $110.05. The stock had a trading volume of 530,248 shares, compared to its average volume of 686,900. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $139.13. The firm has a 50-day simple moving average of $106.49 and a 200 day simple moving average of $106.31. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -18.37 and a beta of 0.46.

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.