Axsome Therapeutics, Inc. $AXSM is Rhenman & Partners Asset Management AB’s 8th Largest Position

Rhenman & Partners Asset Management AB increased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 90.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,800 shares of the company’s stock after purchasing an additional 82,000 shares during the period. Axsome Therapeutics accounts for approximately 2.3% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 8th largest position. Rhenman & Partners Asset Management AB owned 0.34% of Axsome Therapeutics worth $20,987,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Axsome Therapeutics during the 2nd quarter worth about $48,889,000. Adage Capital Partners GP L.L.C. raised its position in shares of Axsome Therapeutics by 831.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after acquiring an additional 399,000 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter worth about $38,740,000. Vanguard Group Inc. lifted its stake in Axsome Therapeutics by 6.0% during the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after purchasing an additional 235,626 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Axsome Therapeutics by 41.1% during the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after purchasing an additional 219,527 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wolfe Research initiated coverage on shares of Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Axsome Therapeutics in a report on Monday, February 23rd. Truist Financial set a $200.00 price target on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of Axsome Therapeutics in a research note on Wednesday, January 14th. Finally, HC Wainwright raised their price objective on Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Seventeen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.12.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $162.33 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.38. The firm has a market cap of $8.30 billion, a PE ratio of -43.99 and a beta of 0.43. The company’s 50 day simple moving average is $176.78 and its 200-day simple moving average is $148.23. Axsome Therapeutics, Inc. has a 12-month low of $86.99 and a 12-month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.14. The firm had revenue of $196.00 million during the quarter, compared to the consensus estimate of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The business’s revenue for the quarter was up 65.0% on a year-over-year basis. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Herriot Tabuteau sold 32,410 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $185.60, for a total value of $6,015,296.00. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,341,702.40. This represents a 81.76% 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, insider Ari Maizel sold 7,500 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total transaction of $1,383,300.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 289,279 shares of company stock valued at $49,496,963. 22.30% of the stock is owned by insiders.

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.