Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 23.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,871 shares of the company’s stock after selling 2,144 shares during the quarter. Profund Advisors LLC’s holdings in Axsome Therapeutics were worth $553,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in Axsome Therapeutics in the first quarter valued at approximately $35,000. Russell Investments Group Ltd. lifted its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares during the last quarter. Covestor Ltd boosted its holdings 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 valued at $88,000 after buying an additional 1,095 shares in the last quarter. Janiczek Wealth Management LLC purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at $97,000. Finally, Natixis raised its stake in Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $89.92 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The company has a 50-day moving average price of $88.35 and a 200 day moving average price of $80.00. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a market cap of $4.27 billion, a P/E ratio of -14.09 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 117.46% and a negative net margin of 105.85%. Research analysts predict that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

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

Analysts Set New Price Targets

Several equities analysts have issued reports on AXSM shares. Royal Bank of Canada decreased their price objective on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. StockNews.com downgraded Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Mizuho reissued a “buy” rating and issued a $106.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Finally, Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $124.57.

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.