State of New Jersey Common Pension Fund D Sells 9,148 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

State of New Jersey Common Pension Fund D trimmed its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 27.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,729 shares of the company’s stock after selling 9,148 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.05% of Axsome Therapeutics worth $1,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Torray Investment Partners LLC lifted its holdings in Axsome Therapeutics by 11.5% during the second quarter. Torray Investment Partners LLC now owns 11,747 shares of the company’s stock worth $946,000 after acquiring an additional 1,209 shares in the last quarter. Arizona State Retirement System raised its position in shares of Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company’s stock worth $695,000 after purchasing an additional 177 shares during the period. Rhumbline Advisers lifted its holdings in shares of Axsome Therapeutics by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 54,931 shares of the company’s stock valued at $4,422,000 after purchasing an additional 2,674 shares in the last quarter. Peregrine Capital Management LLC grew its position in shares of Axsome Therapeutics by 1.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 87,373 shares of the company’s stock valued at $7,034,000 after purchasing an additional 1,238 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Axsome Therapeutics by 7.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after purchasing an additional 11,793 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

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 value of $1,005,870.96. Following the sale, the director now owns 10,002 shares in the company, valued at $913,282.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 10,002 shares of the company’s stock, valued at $913,282.62. 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 the 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 transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Trading Up 1.6 %

NASDAQ AXSM opened at $95.84 on Friday. Axsome Therapeutics, Inc. has a 12 month low of $55.02 and a 12 month high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average of $87.93 and a 200-day moving average of $79.60. The company has a market cap of $4.55 billion, a PE ratio of -15.02 and a beta of 1.25.

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

Analysts Set New Price Targets

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

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.