Lion Street Advisors LLC Buys 5,619 Shares of Axsome Therapeutics, Inc. $AXSM

Lion Street Advisors LLC raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 62.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,677 shares of the company’s stock after purchasing an additional 5,619 shares during the quarter. Lion Street Advisors LLC’s holdings in Axsome Therapeutics were worth $1,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Axsome Therapeutics during the second quarter worth $48,889,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after acquiring an additional 399,000 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at about $38,740,000. Vanguard Group Inc. lifted its position in shares of Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after purchasing an additional 235,626 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Axsome Therapeutics by 41.1% during the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after purchasing an additional 219,527 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 1.3%

Shares of NASDAQ AXSM opened at $183.72 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. The stock has a market capitalization of $9.26 billion, a PE ratio of -39.34, a P/E/G ratio of 12.02 and a beta of 0.40. Axsome Therapeutics, Inc. has a one year low of $86.99 and a one year high of $191.50. The business’s fifty day moving average price is $173.88 and its 200-day moving average price is $143.87.

Insider Buying and Selling at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 78,703 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $171.28, for a total value of $13,480,249.84. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,238,183.12. This trade represents a 91.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark E. Saad sold 37,577 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the completion of the transaction, the director owned 10,002 shares of the company’s stock, valued at $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 308,874 shares of company stock worth $51,390,805 over the last ninety days. Company insiders own 22.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AXSM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 21st. Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $212.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. UBS Group upped their price objective on Axsome Therapeutics from $163.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $157.00 to $193.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Finally, TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research report on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.07.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.