91,649 Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 91,649 shares of the company's stock, valued at approximately $7,754,000. Granite Investment Partners LLC owned 0.19% of Axsome Therapeutics at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AXSM. Barclays PLC boosted its position in shares of Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company's stock worth $5,552,000 after purchasing an additional 45,509 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Axsome Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company's stock worth $81,659,000 after acquiring an additional 23,564 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company's stock worth $13,713,000 after purchasing an additional 51,696 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock worth $19,062,000 after purchasing an additional 27,534 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Axsome Therapeutics during the 4th quarter valued at about $2,237,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded down $0.01 during mid-day trading on Friday, hitting $104.46. 486,786 shares of the company traded hands, compared to its average volume of 681,903. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The stock's fifty day moving average price is $118.71 and its 200-day moving average price is $102.30. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -17.44 and a beta of 0.88. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Morgan Stanley increased their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Bank of America boosted their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Mizuho boosted their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $169.80.

Axsome Therapeutics Profile

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.