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

Vanguard Group Inc. trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,696,766 shares of the company’s stock after selling 32,360 shares during the period. Vanguard Group Inc. owned about 7.80% of Axsome Therapeutics worth $294,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 239,819 shares of the company’s stock valued at $19,087,000 after buying an additional 2,265 shares in the last quarter. Perceptive Advisors LLC lifted its stake in shares of Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after buying an additional 556,370 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $734,000. Great Point Partners LLC bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $395,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Axsome Therapeutics by 57.4% during 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 in the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Activity at Axsome Therapeutics

In related news, 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 transaction of $587,792.10. Following the completion of the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $429,734.73. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Mark Coleman sold 5,249 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the transaction, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $587,792.10. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,821 shares of company stock valued at $2,887,462. Corporate insiders own 22.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley raised shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $90.00 to $115.00 in a research report on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. Truist Financial reissued a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, March 26th. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $127.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, June 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 6th. One 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’s stock. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $122.08.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $80.50 on Friday. The business’s fifty day moving average is $74.98 and its 200 day moving average is $78.74. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -12.62 and a beta of 1.25. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.11. The firm had revenue of $75.00 million for the quarter, compared to the consensus estimate of $69.91 million. Axsome Therapeutics had a negative net margin of 118.07% and a negative return on equity of 87.17%. Research analysts predict 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.