Assetmark Inc. Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Assetmark Inc. acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 611 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Iron Triangle Partners LP acquired a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $22,671,000. Principal Financial Group Inc. increased its stake in shares of Axsome Therapeutics by 6,002.7% in the 4th quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after buying an additional 203,672 shares during the period. FMR LLC raised its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after acquiring an additional 185,951 shares during the last quarter. abrdn plc lifted its stake in shares of Axsome Therapeutics by 553.3% during the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock valued at $6,107,000 after acquiring an additional 61,131 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Axsome Therapeutics by 47.5% in the third quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock valued at $13,713,000 after acquiring an additional 51,696 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $121.91 on Friday. The firm has a fifty day simple moving average of $112.25 and a 200 day simple moving average of $98.88. 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. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -20.35 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on AXSM shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $176.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Truist Financial lifted their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Finally, Leerink Partners boosted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $167.36.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the firm’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 value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 22.40% of the company’s stock.

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.