Corebridge Financial Inc. Sells 1,174 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Corebridge Financial Inc. lowered its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,305 shares of the company’s stock after selling 1,174 shares during the quarter. Corebridge Financial Inc.’s holdings in Axsome Therapeutics were worth $1,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Axsome Therapeutics by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Axsome Therapeutics during the 4th quarter valued at $2,599,000. Intech Investment Management LLC boosted its stake in Axsome Therapeutics by 46.5% during the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after buying an additional 5,087 shares during the period. Raymond James Financial Inc. purchased a new position in Axsome Therapeutics during the fourth quarter worth $14,771,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Axsome Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after acquiring an additional 5,438 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Tuesday. Wells Fargo & Company upped their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price objective on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho increased their target price on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Finally, William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Stock Performance

AXSM stock opened at $109.75 on Thursday. The firm has a 50-day simple moving average of $120.62 and a two-hundred day simple moving average of $101.58. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -18.32 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

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.