Signature Estate & Investment Advisors LLC Sells 800 Shares of Axsome Therapeutics, Inc. $AXSM

Signature Estate & Investment Advisors LLC decreased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 30.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,832 shares of the company’s stock after selling 800 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Axsome Therapeutics were worth $214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BVF Inc. IL raised its stake in shares of Axsome Therapeutics by 21.8% in the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock worth $197,130,000 after acquiring an additional 302,157 shares during the last quarter. Invesco Ltd. raised its stake in shares of Axsome Therapeutics by 23.8% in the first quarter. Invesco Ltd. now owns 857,001 shares of the company’s stock worth $99,952,000 after acquiring an additional 164,537 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Axsome Therapeutics by 4.5% in the first quarter. Wellington Management Group LLP now owns 703,279 shares of the company’s stock worth $82,023,000 after acquiring an additional 30,122 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock worth $73,176,000 after acquiring an additional 623,717 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Axsome Therapeutics in the first quarter worth about $48,185,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity

In other news, Director Mark Coleman bought 1,575 shares of the stock in a transaction on Monday, September 8th. The stock was purchased at an average price of $127.28 per share, with a total value of $200,466.00. Following the completion of the purchase, the director owned 48,212 shares of the company’s stock, valued at approximately $6,136,423.36. This trade represents a 3.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark E. Saad sold 9,127 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the completion of the sale, the director directly owned 10,002 shares of the company’s stock, valued at $1,250,950.14. The trade was a 47.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,299 shares of company stock worth $11,766,554 over the last three months. Company insiders own 22.30% of the company’s stock.

Axsome Therapeutics Trading Down 1.2%

AXSM opened at $124.12 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51. The company has a market cap of $6.19 billion, a price-to-earnings ratio of -24.48 and a beta of 0.54. The firm has a 50 day simple moving average of $111.58 and a 200 day simple moving average of $110.92. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The company had revenue of $150.04 million during the quarter, compared to analysts’ expectations of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXSM. Wells Fargo & Company raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 4th. Bank of America boosted their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Oppenheimer started coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 target price for the company. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $177.86.

Axsome Therapeutics 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.