Pitcairn Co. Buys 148 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Pitcairn Co. raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,562 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Pitcairn Co.’s holdings in Axsome Therapeutics were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Axsome Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after buying an additional 4,079 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock valued at $66,750,000 after acquiring an additional 8,125 shares during the period. Norges Bank bought a new position in shares of Axsome Therapeutics in the 4th quarter valued at about $34,100,000. Charles Schwab Investment Management Inc. increased its stake in shares of Axsome Therapeutics by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after purchasing an additional 5,438 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Axsome Therapeutics by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after purchasing an additional 27,534 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $98.86 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The company’s 50 day moving average price is $120.62 and its two-hundred day moving average price is $101.75. The firm has a market cap of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXSM has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Bank of America increased their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $200.00 price objective on shares of Axsome Therapeutics in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.64.

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.