AQR Capital Management LLC Sells 15,440 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

AQR Capital Management LLC trimmed its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 54.6% in the second quarter, HoldingsChannel.com reports. The firm owned 12,836 shares of the company’s stock after selling 15,440 shares during the period. AQR Capital Management LLC’s holdings in Axsome Therapeutics were worth $1,033,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in Axsome Therapeutics in the first quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $47,000. Russell Investments Group Ltd. boosted its stake in Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after acquiring an additional 777 shares in the last quarter. Covestor Ltd increased its stake in Axsome Therapeutics by 54,750.0% in the first quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Janiczek Wealth Management LLC acquired a new position in shares of Axsome Therapeutics during the first quarter valued at about $97,000. 81.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were 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 directly owns 5,783 shares in the company, valued at $487,275.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’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 transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics stock in a transaction on Friday, August 9th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Up 5.4 %

Axsome Therapeutics stock opened at $87.56 on Friday. The firm has a 50 day simple moving average of $88.96 and a 200 day simple moving average of $81.05. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -13.45 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The firm had revenue of $87.17 million during the quarter, compared to analyst estimates of $84.53 million. On average, analysts predict that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.64.

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.