Principal Financial Group Inc. Sells 3,161 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Principal Financial Group Inc. lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 48.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,393 shares of the company’s stock after selling 3,161 shares during the period. Principal Financial Group Inc.’s holdings in Axsome Therapeutics were worth $305,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AXSM. Sofinnova Investments Inc. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth $24,971,000. Tri Locum Partners LP grew its holdings in shares of Axsome Therapeutics by 198.4% in the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after buying an additional 203,802 shares during the period. Artal Group S.A. bought a new stake in Axsome Therapeutics in the 1st quarter valued at $6,132,000. Vanguard Group Inc. lifted its position in Axsome Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock valued at $298,474,000 after acquiring an additional 43,512 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Axsome Therapeutics in the 2nd quarter valued at $2,735,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 0.5 %

Shares of AXSM opened at $98.68 on Monday. Axsome Therapeutics, Inc. has a 52 week low of $60.28 and a 52 week high of $105.00. The firm has a market cap of $4.78 billion, a P/E ratio of -15.11 and a beta of 1.26. The firm’s 50-day simple moving average is $90.99 and its 200 day simple moving average is $85.06. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same quarter in the prior year, the business posted ($1.32) EPS. On average, analysts forecast that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted 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 investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.93.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred 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 transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.40% of the company’s stock.

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.