Cannell & Co. Decreases Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Cannell & Co. lessened its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 20.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,845 shares of the company's stock after selling 21,345 shares during the period. Cannell & Co. owned approximately 0.18% of Axsome Therapeutics worth $6,594,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Washington Trust Advisors Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $26,000. Fifth Third Bancorp lifted its position in shares of Axsome Therapeutics by 100.0% during the 3rd quarter. Fifth Third Bancorp now owns 400 shares of the company's stock valued at $28,000 after buying an additional 200 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Axsome Therapeutics by 110.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company's stock valued at $84,000 after buying an additional 633 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Axsome Therapeutics during the 4th quarter worth $170,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics in the 3rd quarter worth about $204,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Price Performance

AXSM stock traded down $0.70 during midday trading on Thursday, reaching $74.19. The company had a trading volume of 397,687 shares, compared to its average volume of 705,309. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.52 and a current ratio of 3.63. The stock has a 50 day moving average price of $74.62 and a 200 day moving average price of $75.37. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, beating analysts' consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.38 million. Axsome Therapeutics had a negative return on equity of 70.67% and a negative net margin of 88.41%. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the transaction, the director now directly owns 120,756 shares of the company's stock, valued at $8,416,693.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Mark L. Jacobson sold 24,662 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger Jeffs sold 29,976 shares of Axsome Therapeutics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at approximately $8,416,693.20. The disclosure for this sale can be found here. Insiders own 24.50% of the company's stock.

Analyst Upgrades and Downgrades

AXSM has been the subject of several recent research reports. Piper Sandler boosted their price objective on Axsome Therapeutics from $90.00 to $113.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. Citigroup lifted their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the stock a "buy" rating in a research report on Tuesday, March 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. HC Wainwright reissued a "buy" rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, April 2nd. Finally, UBS Group started coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 6th. They issued a "buy" rating and a $111.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $122.00.

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.