Axsome Therapeutics, Inc. $AXSM Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 19.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 46,326 shares of the company’s stock after selling 11,341 shares during the quarter. Clearbridge Investments LLC’s holdings in Axsome Therapeutics were worth $8,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after buying an additional 65 shares during the period. Allworth Financial LP lifted its stake in shares of Axsome Therapeutics by 6.6% during the third quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after buying an additional 89 shares during the period. Covestor Ltd lifted its stake in shares of Axsome Therapeutics by 19.6% during the fourth quarter. Covestor Ltd now owns 599 shares of the company’s stock worth $110,000 after buying an additional 98 shares during the period. GAMMA Investing LLC lifted its stake in shares of Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after buying an additional 106 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of 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 buying an additional 109 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Mahony sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the transaction, the director directly owned 1,129 shares of the company’s stock, valued at $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 113,400 shares of company stock worth $26,595,598 in the last three months. Company insiders own 20.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho increased their price objective on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Morgan Stanley increased their price objective on Axsome Therapeutics from $217.00 to $242.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. TD Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a report on Friday, May 1st. Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a report on Monday, May 4th. Finally, Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $251.26.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $246.34 on Thursday. The business’s 50-day moving average is $207.58 and its two-hundred day moving average is $180.70. The company has a market capitalization of $12.68 billion, a P/E ratio of -66.04 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $256.00.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Research analysts predict that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Axsome Therapeutics 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.