Principal Financial Group Inc. Sells 12,626 Shares of Axsome Therapeutics, Inc. $AXSM

Principal Financial Group Inc. reduced its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 350,488 shares of the company’s stock after selling 12,626 shares during the quarter. Principal Financial Group Inc.’s holdings in Axsome Therapeutics were worth $59,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AXSM. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics in the 4th quarter worth $31,000. Ameriflex Group Inc. bought a new position in shares of Axsome Therapeutics during the 4th quarter worth about $37,000. Advisory Services Network LLC acquired a new position in shares of Axsome Therapeutics during the third quarter valued at about $40,000. GAMMA Investing LLC raised its position in shares of Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after buying an additional 106 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after buying an additional 235 shares during the period. 81.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research report on Tuesday, May 5th. TD Cowen raised their price objective on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. UBS Group raised their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Wells Fargo & Company lifted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $259.05.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $230.00 on Friday. The stock has a market cap of $11.84 billion, a P/E ratio of -61.66 and a beta of 0.60. The company’s 50-day simple moving average is $238.35 and its 200 day simple moving average is $198.24. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $260.19. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (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 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%.Axsome Therapeutics’s revenue was up 57.4% compared to the same quarter last year. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 49,666 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total value of $11,932,256.50. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. This represents a 87.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan Mahony sold 300 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 approximately $267,810.09. The trade was a 20.99% 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. In the last 90 days, insiders sold 163,352 shares of company stock worth $38,598,262. Insiders own 20.60% of the company’s stock.

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.