Seven Fleet Capital Management LP Takes Position in Axsome Therapeutics, Inc. $AXSM

Seven Fleet Capital Management LP purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,955 shares of the company’s stock, valued at approximately $2,366,000. Axsome Therapeutics comprises 1.8% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds have also recently modified their holdings of AXSM. Kemnay Advisory Services Inc. purchased a new position in Axsome Therapeutics in the 4th quarter valued at $31,000. Optiver Holding B.V. raised its position in Axsome Therapeutics by 82.3% during the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after buying an additional 130 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics during the 4th quarter worth $37,000. Advisory Services Network LLC purchased a new position in Axsome Therapeutics during the third quarter worth about $40,000. Finally, GAMMA Investing LLC raised its stake in shares of Axsome Therapeutics by 65.4% during the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after buying an additional 106 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $250.50 on Friday. The stock’s 50-day moving average is $217.59 and its 200-day moving average is $185.01. The company has a market cap of $12.89 billion, a price-to-earnings ratio of -67.16 and a beta of 0.61. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

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

Insider Activity at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the transaction, the director owned 30,389 shares in the company, valued at $7,566,861. The trade was a 2.07% decrease in their position. 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 113,686 shares of company stock valued at $26,666,006 over the last quarter. Company insiders own 20.60% of the company’s stock.

Analyst Ratings Changes

AXSM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Mizuho increased their target price on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Robert W. Baird increased their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $258.95.

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.