Axsome Therapeutics, Inc. (NASDAQ:AXSM) Short Interest Up 9.0% in May

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 8,270,000 shares, a growth of 9.0% from the May 15th total of 7,590,000 shares. Based on an average trading volume of 677,300 shares, the days-to-cover ratio is currently 12.2 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Truist Financial restated a “buy” rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Mizuho restated a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Guggenheim boosted their price target on Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Citigroup dropped their price target on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.08.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $76.02 on Wednesday. The stock’s fifty day moving average is $73.57 and its two-hundred day moving average is $78.33. The firm has a market capitalization of $3.61 billion, a P/E ratio of -11.92 and a beta of 1.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. Axsome Therapeutics has a fifty-two week low of $55.02 and a fifty-two week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 6th. The company reported ($1.09) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The business had revenue of $75.00 million for the quarter, compared to analyst estimates of $69.91 million. On average, research analysts anticipate that Axsome Therapeutics will post -4.7 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $77.24, for a total value of $1,904,892.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total value of $1,904,892.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,821 shares of company stock valued at $2,887,462. 22.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the business. RTW Investments LP lifted its stake in shares of Axsome Therapeutics by 4.8% in the 3rd quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after purchasing an additional 205,319 shares during the last quarter. Vanguard Group Inc. lifted its stake in Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after acquiring an additional 43,512 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after acquiring an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after acquiring an additional 305,264 shares in the last quarter. Finally, Bellevue Group AG lifted its stake in Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after acquiring an additional 50,104 shares in the last quarter. Institutional investors and hedge funds own 81.49% 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.