MPM Bioimpact LLC Makes New $4.23 Million Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

MPM Bioimpact LLC purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 50,000 shares of the company's stock, valued at approximately $4,230,000. MPM Bioimpact LLC owned about 0.10% of Axsome Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. bought a new position in shares of Axsome Therapeutics in the 4th quarter worth approximately $52,000. R Squared Ltd bought a new position in shares of Axsome Therapeutics in the 4th quarter worth approximately $64,000. Aquatic Capital Management LLC bought a new position in shares of Axsome Therapeutics in the 4th quarter worth approximately $76,000. KBC Group NV lifted its stake in shares of Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock worth $225,000 after purchasing an additional 277 shares during the period. Hedge funds and other institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Price Performance

AXSM traded up $0.31 during trading on Friday, reaching $107.53. 627,730 shares of the company traded hands, compared to its average volume of 688,043. The firm has a fifty day simple moving average of $110.49 and a 200 day simple moving average of $105.18. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The company has a market cap of $5.29 billion, a P/E ratio of -17.95 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analysts Set New Price Targets

AXSM has been the topic of several recent research reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Royal Bank of Canada raised 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. Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a "buy" rating and a $200.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $176.00 target price on the stock. Finally, Robert W. Baird raised their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $172.14.

Axsome Therapeutics Company 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.