Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by PDT Partners LLC

PDT Partners LLC lessened its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 64.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,195 shares of the company's stock after selling 7,506 shares during the quarter. PDT Partners LLC's holdings in Axsome Therapeutics were worth $355,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pitcairn Co. raised its position in Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after purchasing an additional 148 shares during the last quarter. Meridian Wealth Management LLC lifted its position in shares of Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock worth $1,791,000 after purchasing an additional 150 shares during the period. Summit Investment Advisors Inc. boosted its position in Axsome Therapeutics by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company's stock valued at $326,000 after acquiring an additional 162 shares during the last quarter. Arizona State Retirement System increased its holdings in Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after purchasing an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its holdings in Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after purchasing an additional 183 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 3,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 22.40% of the company's stock.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group began coverage on Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price target on the stock. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Finally, William Blair restated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $169.87.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock traded up $4.28 during trading on Monday, reaching $116.49. The company had a trading volume of 944,775 shares, compared to its average volume of 686,634. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm's 50-day simple moving average is $113.58 and its 200 day simple moving average is $104.02. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -19.45 and a beta of 0.46. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, beating analysts' consensus estimates of ($1.23) by $0.43. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

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.