21,086 Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Purchased by Truist Financial Corp

Truist Financial Corp bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,086 shares of the company's stock, valued at approximately $1,678,000.

Several other hedge funds have also modified their holdings of AXSM. Trexquant Investment LP acquired a new stake in Axsome Therapeutics during the 3rd quarter worth about $1,220,000. Kennedy Capital Management LLC boosted its stake in Axsome Therapeutics by 24.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company's stock worth $845,000 after purchasing an additional 2,354 shares during the period. Wellington Management Group LLP grew its position in Axsome Therapeutics by 18.9% during the 3rd quarter. Wellington Management Group LLP now owns 237,554 shares of the company's stock worth $16,603,000 after purchasing an additional 37,843 shares in the last quarter. Victory Capital Management Inc. raised its stake in Axsome Therapeutics by 403.8% during the 3rd quarter. Victory Capital Management Inc. now owns 18,934 shares of the company's stock valued at $1,323,000 after purchasing an additional 15,176 shares during the period. Finally, Phocas Financial Corp. acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $2,140,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM traded down $1.18 during mid-day trading on Friday, hitting $72.50. The company had a trading volume of 510,200 shares, compared to its average volume of 618,280. Axsome Therapeutics, Inc. has a 12 month low of $55.02 and a 12 month high of $98.40. The firm has a market cap of $3.44 billion, a P/E ratio of -11.36 and a beta of 1.13. The business's 50-day simple moving average is $73.64 and its 200-day simple moving average is $75.87. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.73) EPS for the quarter, topping analysts' consensus estimates of ($1.21) by $0.48. The company had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. As a group, analysts predict that Axsome Therapeutics, Inc. will post -4.66 earnings per share for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AXSM. Guggenheim lifted their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. UBS Group started coverage on shares of Axsome Therapeutics in a research report on Tuesday, February 6th. They issued a "buy" rating and a $111.00 price target for the company. Mizuho lowered their price objective on shares of Axsome Therapeutics from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley upgraded shares of Axsome Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $90.00 to $115.00 in a research note on Monday, April 29th. Finally, HC Wainwright reissued a "buy" rating and set a $190.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.92.

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.