Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Cannell & Co.

Cannell & Co. lowered its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 20.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 82,845 shares of the company’s stock after selling 21,345 shares during the quarter. Cannell & Co.’s holdings in Axsome Therapeutics were worth $6,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. RTW Investments LP raised its position in shares of Axsome Therapeutics by 4.8% in the third quarter. RTW Investments LP now owns 4,489,596 shares of the company’s stock valued at $313,778,000 after buying an additional 205,319 shares during the last quarter. Northern Trust Corp raised its position in shares of Axsome Therapeutics by 7.0% in the third quarter. Northern Trust Corp now owns 349,057 shares of the company’s stock valued at $24,396,000 after buying an additional 22,916 shares during the last quarter. Eventide Asset Management LLC acquired a new position in shares of Axsome Therapeutics in the third quarter valued at approximately $24,232,000. Charles Schwab Investment Management Inc. raised its position in shares of Axsome Therapeutics by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 289,871 shares of the company’s stock valued at $20,259,000 after buying an additional 21,457 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Axsome Therapeutics by 18.9% in the third quarter. Wellington Management Group LLP now owns 237,554 shares of the company’s stock valued at $16,603,000 after buying an additional 37,843 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Axsome Therapeutics from $125.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. UBS Group assumed coverage on shares of Axsome Therapeutics in a report on Tuesday, February 6th. They issued a “buy” rating and a $111.00 target price for the company. Piper Sandler boosted their target price on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $123.00 to $128.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Axsome Therapeutics Stock Up 1.5 %

AXSM opened at $74.89 on Thursday. The company has a current ratio of 3.63, a quick ratio of 3.52 and a debt-to-equity ratio of 0.93. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40. The company has a 50 day moving average of $74.62 and a two-hundred day moving average of $75.37.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.48. The business had revenue of $71.53 million during the quarter, compared to the consensus estimate of $70.38 million. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. On average, sell-side analysts predict that Axsome Therapeutics, Inc. will post -3.75 EPS for the current fiscal year.

Insider Activity

In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Roger Jeffs sold 29,976 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the transaction, the director now directly owns 120,756 shares in the company, valued at $8,416,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark L. Jacobson sold 24,662 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The disclosure for this sale can be found here. Insiders own 24.50% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.