Bellevue Group AG Purchases 50,104 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Bellevue Group AG boosted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 685,476 shares of the company’s stock after buying an additional 50,104 shares during the quarter. Bellevue Group AG owned approximately 1.44% of Axsome Therapeutics worth $54,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Avidity Partners Management LP raised its holdings in shares of Axsome Therapeutics by 54.8% during the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock valued at $36,564,000 after acquiring an additional 162,600 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at approximately $2,140,000. Jump Financial LLC bought a new position in Axsome Therapeutics in the fourth quarter worth $669,000. Affinity Asset Advisors LLC bought a new position in Axsome Therapeutics in the fourth quarter worth $3,980,000. Finally, Blair William & Co. IL raised its holdings in Axsome Therapeutics by 645.9% in the first quarter. Blair William & Co. IL now owns 63,547 shares of the company’s stock worth $5,071,000 after purchasing an additional 55,027 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 7,910 shares of Axsome Therapeutics stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the completion of the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Mark Coleman sold 5,249 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now directly owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $74.31, for a total value of $587,792.10. Following the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $429,734.73. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup cut their target price on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 6th. Bank of America dropped their price objective on Axsome Therapeutics from $97.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Robert W. Baird raised their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $131.00 target price on shares of Axsome Therapeutics in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.85.

Axsome Therapeutics Price Performance

NASDAQ:AXSM traded up $0.55 during trading hours on Friday, reaching $86.53. The stock had a trading volume of 262,200 shares, compared to its average volume of 639,350. The stock has a market capitalization of $4.11 billion, a PE ratio of -13.56 and a beta of 1.26. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.09 and a current ratio of 3.20. The company has a 50 day moving average price of $78.54 and a two-hundred day moving average price of $79.38. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The company had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.91 million. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.65 earnings per share for the current fiscal year.

About Axsome Therapeutics

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.