Vanguard Group Inc. Sells 32,360 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Vanguard Group Inc. cut its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,696,766 shares of the company’s stock after selling 32,360 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Axsome Therapeutics worth $294,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AXSM. Perceptive Advisors LLC lifted its position in shares of Axsome Therapeutics by 115.5% during the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Axsome Therapeutics by 57.4% in the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after purchasing an additional 305,264 shares during the last quarter. First Turn Management LLC purchased a new position in Axsome Therapeutics in the fourth quarter valued at about $23,513,000. RTW Investments LP grew its stake in Axsome Therapeutics by 4.8% in the third 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. Finally, Norges Bank purchased a new position in Axsome Therapeutics in the fourth quarter valued at about $15,530,000. 81.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Coleman sold 5,249 shares of Axsome Therapeutics 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 completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mark Coleman sold 5,249 shares of Axsome Therapeutics 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 completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were 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 disclosure for this sale can be found here. Insiders sold 37,821 shares of company stock valued at $2,887,462 over the last quarter. 22.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $115.00 in a research note on Monday, April 29th. Royal Bank of Canada lifted their target price on Axsome Therapeutics from $127.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, June 5th. Mizuho reiterated a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, June 12th. Truist Financial reiterated a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, March 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, April 10th. One investment 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, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.08.

Axsome Therapeutics Trading Up 0.5 %

Axsome Therapeutics stock opened at $80.50 on Friday. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -12.62 and a beta of 1.25. The stock has a 50-day moving average price of $74.98 and a 200 day moving average price of $78.74.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 6th. The company reported ($1.09) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $75.00 million during the quarter, compared to the consensus estimate of $69.91 million. Sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.7 EPS for the current year.

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.