Axsome Therapeutics, Inc. $AXSM Shares Sold by Tri Locum Partners LP

Tri Locum Partners LP lessened its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 69.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 62,116 shares of the company’s stock after selling 139,511 shares during the quarter. Axsome Therapeutics comprises 1.5% of Tri Locum Partners LP’s holdings, making the stock its 16th biggest position. Tri Locum Partners LP’s holdings in Axsome Therapeutics were worth $10,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of AXSM. Price T Rowe Associates Inc. MD raised its position in shares of 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 in the last quarter. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 609,516 shares in the last quarter. Invesco Ltd. increased its stake in shares of Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after acquiring an additional 282,937 shares during the period. Geode Capital Management LLC increased its stake in shares of Axsome Therapeutics by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after acquiring an additional 12,549 shares during the period. Finally, State Street Corp raised its holdings in Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after purchasing an additional 52,483 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 2.9%

Shares of NASDAQ:AXSM opened at $227.42 on Thursday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of -60.97 and a beta of 0.60. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $260.19. The company has a 50 day moving average price of $239.55 and a 200 day moving average price of $202.14.

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). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the sale, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at $1,029,604.98. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the transaction, the chief financial officer owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This trade represents a 43.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 155,852 shares of company stock worth $37,230,112. Corporate insiders own 20.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXSM. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research note on Tuesday, May 5th. Needham & Company LLC boosted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. UBS Group upped their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a report on Friday, April 10th. Wells Fargo & Company raised their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, BMO Capital Markets began coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.48.

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.