Deutsche Bank AG Invests $21.16 Million in Axsome Therapeutics, Inc. $AXSM

Deutsche Bank AG acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, Holdings Channel reports. The fund acquired 86,466 shares of the company’s stock, valued at approximately $21,164,000.

A number of other institutional investors also recently bought and sold shares of the stock. Pictet Asset Management Holding SA increased its holdings in Axsome Therapeutics by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after buying an additional 73,925 shares during the period. Norges Bank acquired a new stake in Axsome Therapeutics during the 4th quarter valued at approximately $90,490,000. Axiom Investors LLC DE lifted its stake in Axsome Therapeutics by 28.7% during the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after acquiring an additional 14,137 shares during the period. M&T Bank Corp boosted its holdings in shares of Axsome Therapeutics by 2,553.8% in the 4th quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after acquiring an additional 47,602 shares during the last quarter. Finally, Legato Capital Management LLC boosted its holdings in shares of Axsome Therapeutics by 90.6% in the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock valued at $1,758,000 after acquiring an additional 4,576 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Trading Down 0.1%

AXSM stock opened at $207.77 on Friday. The company’s 50-day simple moving average is $232.13 and its 200-day simple moving average is $206.02. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The firm has a market cap of $10.88 billion, a P/E ratio of -55.41 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The business had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. As a group, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several recent research reports. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Friday, July 17th. BMO Capital Markets initiated coverage on Axsome Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $310.00 target price on the stock. Finally, Royal Bank Of Canada dropped their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 4,660 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total transaction of $997,007.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,546,644.55. This represents a 39.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Roger Jeffs sold 286 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director owned 58,653 shares in the company, valued at $14,439,195.54. This trade represents a 0.49% decrease in their position. 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. Insiders sold 200,766 shares of company stock valued at $46,685,646 in the last 90 days. Corporate insiders own 20.60% of the company’s stock.

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.