Russell Investments Group Ltd. Buys 18,422 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Russell Investments Group Ltd. grew its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 1,815.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,437 shares of the company's stock after purchasing an additional 18,422 shares during the quarter. Russell Investments Group Ltd.'s holdings in Axsome Therapeutics were worth $1,645,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $2,599,000. Intech Investment Management LLC increased its position in shares of Axsome Therapeutics by 46.5% in the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock valued at $1,356,000 after buying an additional 5,087 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $14,771,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock valued at $27,755,000 after buying an additional 5,438 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded up $0.55 during mid-day trading on Thursday, hitting $104.78. The stock had a trading volume of 123,786 shares, compared to its average volume of 912,590. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -17.49 and a beta of 0.88. The company's 50 day simple moving average is $116.49 and its 200 day simple moving average is $102.67. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

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

Analyst Ratings Changes

A number of analysts recently commented on AXSM shares. Morgan Stanley upped their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Royal Bank of Canada upped their price objective on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Robert W. Baird increased their target price on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $176.00 target price for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $169.80.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 22.40% of the company's stock.

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.