Wellington Management Group LLP Grows Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 239,819 shares of the company’s stock after buying an additional 2,265 shares during the quarter. Wellington Management Group LLP’s holdings in Axsome Therapeutics were worth $19,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Trexquant Investment LP bought a new position in Axsome Therapeutics during the third quarter valued at $1,220,000. Kennedy Capital Management LLC increased its holdings in Axsome Therapeutics by 24.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 12,092 shares of the company’s stock worth $845,000 after acquiring an additional 2,354 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Axsome Therapeutics during the fourth quarter valued at about $2,140,000. Avidity Partners Management LP boosted its position in Axsome Therapeutics by 54.8% during the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after purchasing an additional 162,600 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Axsome Therapeutics in the fourth quarter worth about $669,000. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark Coleman sold 5,249 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now directly owns 19,848 shares in the company, valued at approximately $1,492,768.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 24,662 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The disclosure for this sale can be found here. In the last three months, insiders sold 37,821 shares of company stock worth $2,887,462. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Price Performance

AXSM stock opened at $79.01 on Wednesday. The firm has a 50 day simple moving average of $74.30 and a two-hundred day simple moving average of $78.60. The stock has a market cap of $3.75 billion, a PE ratio of -12.38 and a beta of 1.26. Axsome Therapeutics, Inc. has a one year low of $55.02 and a one year high of $98.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.20 and a quick ratio of 3.09.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Mizuho reaffirmed a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Royal Bank of Canada lifted their price target on Axsome Therapeutics from $127.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, June 5th. Citigroup dropped their price objective on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 6th. Finally, Robert W. Baird increased their price target on shares of Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.08.

Axsome Therapeutics Company 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.