Axsome Therapeutics, Inc. $AXSM Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB boosted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 90.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 172,800 shares of the company’s stock after buying an additional 82,000 shares during the period. Axsome Therapeutics makes up approximately 2.3% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 8th largest holding. Rhenman & Partners Asset Management AB’s holdings in Axsome Therapeutics were worth $20,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in Axsome Therapeutics by 20,300.0% during the 3rd quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after buying an additional 203 shares during the last quarter. First Horizon Corp acquired a new position in shares of Axsome Therapeutics during the third quarter worth about $34,000. Optiver Holding B.V. increased its stake in shares of Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after acquiring an additional 130 shares during the period. Essex Investment Management Co. LLC purchased a new position in Axsome Therapeutics during the third quarter worth about $38,000. Finally, UMB Bank n.a. raised its holdings in Axsome Therapeutics by 214.4% during the third quarter. UMB Bank n.a. now owns 371 shares of the company’s stock worth $45,000 after purchasing an additional 253 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark Coleman sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $161.11, for a total value of $4,027,750.00. Following the completion of the transaction, the director owned 47,140 shares in the company, valued at $7,594,725.40. This trade represents a 34.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mark L. Jacobson sold 35,378 shares of Axsome Therapeutics stock in a transaction 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 have sold 289,279 shares of company stock valued at $49,496,963 in the last three months. 22.30% of the stock is owned by insiders.

Analyst Ratings Changes

AXSM has been the topic of a number of analyst reports. UBS Group lifted their price objective on Axsome Therapeutics from $248.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. TD Cowen reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 21st. Oppenheimer reissued an “outperform” rating and issued a $220.00 target price on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 14th. Seventeen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.12.

Axsome Therapeutics Price Performance

AXSM stock opened at $162.33 on Friday. The firm has a 50 day moving average of $176.78 and a 200-day moving average of $148.23. The company has a market cap of $8.30 billion, a price-to-earnings ratio of -43.99 and a beta of 0.43. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. Axsome Therapeutics, Inc. has a 12-month low of $86.99 and a 12-month high of $191.50.

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

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.