Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,893 shares of the company’s stock after selling 1,727 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Axsome Therapeutics worth $3,211,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Avidity Partners Management LP raised its position in Axsome Therapeutics by 54.8% during the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after acquiring an additional 162,600 shares during the last quarter. Vanguard Group Inc. increased its position in Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after buying an additional 43,512 shares in the last quarter. Bellevue Group AG increased its position in Axsome Therapeutics by 7.9% during the first quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after buying an additional 50,104 shares in the last quarter. Affinity Asset Advisors LLC acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth $3,980,000. Finally, Blair William & Co. IL lifted its position in shares of Axsome Therapeutics by 645.9% in the first quarter. Blair William & Co. IL now owns 63,547 shares of the company’s stock valued at $5,071,000 after acquiring an additional 55,027 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 4.5 %

AXSM opened at $91.56 on Tuesday. Axsome Therapeutics, Inc. has a 1 year low of $55.02 and a 1 year high of $98.40. The firm has a 50 day moving average price of $88.10 and a 200 day moving average price of $79.81. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The company has a market cap of $4.35 billion, a PE ratio of -14.35 and a beta of 1.25.

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

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated 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 sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Axsome Therapeutics news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 owns 5,783 shares in the company, valued at approximately $487,275.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price objective 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 research report on Wednesday, June 12th. UBS Group decreased their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target for the company. Finally, StockNews.com cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.57.

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.