Axsome Therapeutics, Inc. $AXSM Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 41.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,877 shares of the company’s stock after selling 7,717 shares during the quarter. Quantbot Technologies LP’s holdings in Axsome Therapeutics were worth $1,321,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AXSM. Moors & Cabot Inc. raised its holdings in shares of Axsome Therapeutics by 4.5% during the second quarter. Moors & Cabot Inc. now owns 2,330 shares of the company’s stock worth $243,000 after purchasing an additional 100 shares during the last quarter. Meridian Wealth Management LLC raised its stake in shares of Axsome Therapeutics by 0.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 22,124 shares of the company’s stock valued at $2,687,000 after buying an additional 103 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 1.1% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 9,889 shares of the company’s stock valued at $1,032,000 after buying an additional 107 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Axsome Therapeutics by 6.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,856 shares of the company’s stock worth $225,000 after buying an additional 107 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Axsome Therapeutics by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 18,158 shares of the company’s stock worth $2,205,000 after acquiring an additional 109 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 32,410 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total value of $6,015,296.00. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,341,702.40. The trade was a 81.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 35,378 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $161.88, for a total value of $5,726,990.64. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 289,279 shares of company stock worth $49,496,963 in the last quarter. Corporate insiders own 22.30% of the company’s stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $161.46 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55. The stock has a market capitalization of $8.26 billion, a PE ratio of -43.76 and a beta of 0.43. Axsome Therapeutics, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The company has a fifty day moving average of $176.57 and a two-hundred day moving average of $147.62.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business had revenue of $196.00 million during the quarter, compared to analysts’ expectations of $191.33 million. The business’s quarterly revenue was up 65.0% compared to the same quarter last year. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wolfe Research assumed coverage on Axsome Therapeutics in a report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Axsome Therapeutics in a report on Monday, February 23rd. Truist Financial set a $200.00 price target on shares of Axsome Therapeutics in a report on Monday, February 23rd. Leerink Partners raised their price target on shares of Axsome Therapeutics from $150.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Finally, Piper Sandler upped their price objective on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Seventeen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.12.

About Axsome Therapeutics

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.