22,083 Shares in Axsome Therapeutics, Inc. $AXSM Acquired by Castleark Management LLC

Castleark Management LLC purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 22,083 shares of the company’s stock, valued at approximately $5,405,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Axsome Therapeutics during the second quarter worth about $759,695,000. Wellington Management Group LLP grew its stake in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after buying an additional 609,516 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Axsome Therapeutics by 1,230.2% during the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after buying an additional 534,066 shares during the period. Norges Bank purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $90,490,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after buying an additional 472,422 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the transaction, the director owned 1,129 shares in the company, valued at approximately $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director owned 30,389 shares of the company’s stock, valued at $7,566,861. The trade was a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 200,766 shares of company stock valued at $46,685,646 over the last quarter. 20.60% of the stock is owned by insiders.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $205.48 on Wednesday. The company has a 50-day moving average of $230.24 and a two-hundred day moving average of $206.43. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of -54.79 and a beta of 0.65. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. Axsome Therapeutics, Inc. has a one year low of $112.90 and a one year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXSM. Needham & Company LLC increased their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Friday, July 17th. Morgan Stanley lifted their target price on Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Guggenheim raised their price target on Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.60.

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.