Bank of New York Mellon Corp Decreases Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Bank of New York Mellon Corp cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,550 shares of the company’s stock after selling 1,896 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Axsome Therapeutics worth $11,384,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of 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 in the last quarter. Strategic Financial Concepts LLC bought a new position in Axsome Therapeutics during the 4th quarter valued at about $2,599,000. PDT Partners LLC bought a new position in Axsome Therapeutics during the 3rd quarter valued at about $1,052,000. Pallas Capital Advisors LLC purchased a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $2,237,000. Finally, Captrust Financial Advisors bought a new stake in shares of Axsome Therapeutics in the third quarter worth approximately $514,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 42,187 shares of the company’s stock, valued at $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 SEC, which is available through this link. 22.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXSM. Wells Fargo & Company lifted their target price on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Mizuho upped their price objective on Axsome Therapeutics from $195.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $176.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.36.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $121.65 on Friday. The stock has a 50-day moving average price of $111.54 and a 200 day moving average price of $98.58. The stock has a market capitalization of $5.93 billion, a P/E ratio of -20.31 and a beta of 1.00. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22.

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