Y Intercept Hong Kong Ltd Makes New $1.49 Million Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Y Intercept Hong Kong Ltd acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,745 shares of the company's stock, valued at approximately $1,486,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in Axsome Therapeutics by 0.4% in the 1st quarter. IFP Advisors Inc now owns 68,114 shares of the company's stock worth $7,944,000 after buying an additional 275 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Axsome Therapeutics in the 1st quarter valued at $8,174,000. New York State Common Retirement Fund boosted its holdings in shares of Axsome Therapeutics by 49.3% in the first quarter. New York State Common Retirement Fund now owns 33,581 shares of the company's stock worth $3,917,000 after buying an additional 11,090 shares during the period. Mutual of America Capital Management LLC raised its stake in Axsome Therapeutics by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock valued at $4,621,000 after purchasing an additional 136 shares during the period. Finally, Xponance Inc. raised its position in Axsome Therapeutics by 8.7% during the first quarter. Xponance Inc. now owns 2,891 shares of the company's stock valued at $337,000 after buying an additional 232 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Trading Down 3.9%

AXSM stock traded down $4.14 during midday trading on Friday, reaching $100.83. The stock had a trading volume of 854,936 shares, compared to its average volume of 606,771. The business has a fifty day simple moving average of $106.35 and a two-hundred day simple moving average of $110.00. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -17.47 and a beta of 0.46. Axsome Therapeutics, Inc. has a twelve month low of $72.21 and a twelve month high of $139.13. The company has a quick ratio of 1.96, a current ratio of 2.03 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling at Axsome Therapeutics

In other news, 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 sale, the chief operating officer directly owned 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,437 shares of company stock valued at $9,834,215. Company insiders own 22.30% of the company's stock.

Analyst Ratings Changes

AXSM has been the topic of several research reports. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Wells Fargo & Company reiterated an "overweight" rating and set a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Jefferies Financial Group assumed coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Finally, Morgan Stanley started coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 target price for the company. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $172.33.

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.