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

AQR Capital Management LLC lowered its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 54.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 reporting period.

A number of other large investors also recently modified their holdings of AXSM. EntryPoint Capital LLC acquired a new stake in Axsome Therapeutics in the first quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Axsome Therapeutics in the second quarter worth $47,000. Russell Investments Group Ltd. raised its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares in the last quarter. Covestor Ltd lifted its holdings in shares of 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 buying an additional 1,095 shares during the period. Finally, Janiczek Wealth Management LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $97,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. UBS Group cut their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.64.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of Axsome Therapeutics 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 owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction 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 transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Up 5.4 %

Shares of AXSM stock opened at $87.56 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40. 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 stock has a market cap of $4.16 billion, a price-to-earnings ratio of -13.45 and a beta of 1.26. The firm’s 50-day moving average is $88.96 and its 200-day moving average is $81.05.

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

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.