XTX Topco Ltd Sells 9,794 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Key Points

• XTX Topco Ltd reduced its stake in Axsome Therapeutics by 74.5%, selling 9,794 shares in the first quarter, leaving it with 3,357 shares valued at $392,000.
• Company insiders have significantly reduced their holdings, selling 93,437 shares valued at over $9.8 million in the last three months.
• Analysts have set high price targets for Axsome Therapeutics, with estimates ranging from $150.00 to $190.00, indicating a predominantly positive outlook for the stock.

XTX Topco Ltd reduced its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 74.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,357 shares of the company's stock after selling 9,794 shares during the quarter. XTX Topco Ltd's holdings in Axsome Therapeutics were worth $392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its holdings in shares of Axsome Therapeutics by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock worth $4,621,000 after purchasing an additional 136 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Axsome Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock worth $326,000 after buying an additional 162 shares in the last quarter. GF Fund Management CO. LTD. grew its holdings in Axsome Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company's stock worth $145,000 after buying an additional 223 shares in the last quarter. Xponance Inc. grew its holdings in Axsome Therapeutics by 8.7% in the 1st quarter. Xponance Inc. now owns 2,891 shares of the company's stock worth $337,000 after buying an additional 232 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Axsome Therapeutics during the first quarter worth approximately $31,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Axsome Therapeutics

In related news, General Counsel Hunter R. Murdock sold 7,500 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.26, for a total transaction of $751,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Coleman sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the transaction, the director directly owned 50,387 shares of the company's stock, valued at $5,314,316.89. This trade represents a 6.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,437 shares of company stock worth $9,834,215. 22.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AXSM shares. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, May 14th. Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Axsome Therapeutics in a report on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Royal Bank Of Canada boosted their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target for the company. 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 company. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Buy" and an average target price of $178.00.

Axsome Therapeutics Price Performance

NASDAQ AXSM traded up $4.27 during trading on Wednesday, reaching $109.50. 264,406 shares of the company traded hands, compared to its average volume of 779,276. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The stock's 50 day moving average price is $105.69 and its two-hundred day moving average price is $110.87. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -21.60 and a beta of 0.51. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $139.13.

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

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.