Affinity Asset Advisors LLC Cuts Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Affinity Asset Advisors LLC decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 42.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,000 shares of the company’s stock after selling 59,758 shares during the period. Affinity Asset Advisors LLC owned approximately 0.17% of Axsome Therapeutics worth $6,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in Axsome Therapeutics during the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Axsome Therapeutics during the second quarter valued at approximately $47,000. Russell Investments Group Ltd. boosted its position in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares in the last quarter. Covestor Ltd grew its stake in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares during the last quarter. Finally, Janiczek Wealth Management LLC purchased a new position in Axsome Therapeutics during the first quarter valued at $97,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXSM. StockNews.com downgraded shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. Finally, UBS Group decreased their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $124.57.

Insiders Place Their Bets

In other news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $91.31 on Wednesday. The business’s 50 day moving average is $88.23 and its 200 day moving average is $79.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. Axsome Therapeutics, Inc. has a 12-month low of $55.02 and a 12-month high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. Equities research analysts expect that Axsome Therapeutics, Inc. will post -4.73 EPS for the current fiscal year.

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.