Voya Investment Management LLC Boosts Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Voya Investment Management LLC raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,742 shares of the company's stock after purchasing an additional 8,259 shares during the quarter. Voya Investment Management LLC owned approximately 0.21% of Axsome Therapeutics worth $8,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXSM. JPMorgan Chase & Co. increased its position in shares of Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock worth $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Axsome Therapeutics during the 4th quarter valued at $2,599,000. Intech Investment Management LLC lifted its holdings in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company's stock worth $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $14,771,000. Finally, Charles Schwab Investment Management Inc. grew 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 worth $27,755,000 after buying an additional 5,438 shares during the period. Institutional investors own 81.49% of the company's stock.

Axsome Therapeutics Trading Up 4.9 %

NASDAQ AXSM traded up $5.51 during trading hours on Monday, hitting $117.72. 284,760 shares of the company were exchanged, compared to its average volume of 683,884. The stock has a market cap of $5.79 billion, a PE ratio of -19.64 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. The stock has a 50-day moving average price of $113.58 and a 200 day moving average price of $104.02. 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 issued its quarterly earnings results on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.23) by $0.43. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Leerink Partners upped their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Bank of America lifted their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They set a "buy" rating and a $200.00 price objective for the company. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of "Moderate Buy" and an average 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.