Axsome Therapeutics, Inc. $AXSM Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 34.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,178 shares of the company’s stock after buying an additional 32,241 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Axsome Therapeutics worth $31,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in AXSM. Kemnay Advisory Services Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth about $31,000. Hollencrest Capital Management boosted its holdings in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics in the fourth quarter valued at approximately $37,000. Advisory Services Network LLC purchased a new position in Axsome Therapeutics in the third quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC raised its holdings in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Price Performance

AXSM stock opened at $208.35 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $10.91 billion, a P/E ratio of -55.56 and a beta of 0.71. The business has a 50 day simple moving average of $224.52 and a 200-day simple moving average of $207.48. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The business had revenue of $218.38 million during the quarter, compared to analyst estimates 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 anticipate that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXSM. Needham & Company LLC upped their target price on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price target on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. HC Wainwright reissued a “buy” rating and issued a $290.00 price target on shares of Axsome Therapeutics in a research report on Monday. TD Cowen upped their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $267.60.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Mahony sold 300 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. This trade represents a 20.99% 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 a total of 193,229 shares of company stock valued at $44,752,676 in the last quarter. 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.