Kennedy Capital Management LLC Boosts Holdings in Axsome Therapeutics, Inc. $AXSM

Kennedy Capital Management LLC boosted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 380.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,955 shares of the company’s stock after acquiring an additional 22,133 shares during the quarter. Kennedy Capital Management LLC owned 0.06% of Axsome Therapeutics worth $2,918,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AXSM. Caitong International Asset Management Co. Ltd bought a new stake in Axsome Therapeutics during the first quarter valued at about $25,000. Quantbot Technologies LP acquired a new stake in shares of Axsome Therapeutics during the first quarter worth about $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth $38,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Axsome Therapeutics during the 1st quarter valued at about $47,000. Finally, Ameritas Advisory Services LLC purchased a new position in Axsome Therapeutics during the second quarter valued at approximately $77,000. 81.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $115.96, for a total value of $1,159,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Herriot Tabuteau sold 10,558 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total value of $1,564,484.44. Following the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,071,193.22. The trade was a 59.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 407,959 shares of company stock worth $52,645,040. Insiders own 22.30% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $149.22 on Friday. The firm has a fifty day moving average price of $134.97 and a 200 day moving average price of $118.87. The stock has a market cap of $7.52 billion, a PE ratio of -31.95 and a beta of 0.48. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $152.94.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The business had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics’s quarterly revenue was up 63.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $154.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Mizuho lifted their price target on Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley upped their price objective on Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, B. Riley started coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They set a “buy” rating and a $179.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.88.

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.