Seven Springs Wealth Group LLC Acquires Shares of 4,005 Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Seven Springs Wealth Group LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,005 shares of the company's stock, valued at approximately $339,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $64,000. KBC Group NV boosted its holdings in Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after acquiring an additional 385 shares during the last quarter. Xponance Inc. grew its position in Axsome Therapeutics by 11.6% during the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after acquiring an additional 277 shares during the period. Finally, Intrust Bank NA increased its stake in Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after acquiring an additional 183 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was 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 approximately $5,529,450.09. This represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded up $3.66 during trading on Tuesday, hitting $110.90. The company's stock had a trading volume of 226,958 shares, compared to its average volume of 681,313. The firm has a market cap of $5.41 billion, a P/E ratio of -18.50 and a beta of 0.88. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13. The firm has a 50 day moving average price of $115.15 and a 200 day moving average price of $103.38. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXSM has been the subject of a number of research reports. 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. William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Cantor Fitzgerald reissued an "overweight" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and issued a $200.00 price target on shares of Axsome Therapeutics in a report on Thursday, April 3rd. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Axsome Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.87.

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.