Axsome Therapeutics, Inc. $AXSM Shares Purchased by Eventide Asset Management LLC

Eventide Asset Management LLC raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 746,398 shares of the company’s stock after buying an additional 20,726 shares during the quarter. Axsome Therapeutics makes up about 1.5% of Eventide Asset Management LLC’s investment portfolio, making the stock its 14th largest holding. Eventide Asset Management LLC owned about 1.48% of Axsome Therapeutics worth $90,638,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AXSM. Vanguard Group Inc. lifted its position in Axsome Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after purchasing an additional 235,626 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in Axsome Therapeutics during the 3rd quarter valued at about $2,125,000. Aberdeen Group plc grew its position in Axsome Therapeutics by 15.5% in the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock worth $11,495,000 after purchasing an additional 12,732 shares during the last quarter. Swiss National Bank grew its position in Axsome Therapeutics by 6.9% in the 2nd quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after purchasing an additional 4,200 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Axsome Therapeutics by 107.7% in the third quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock valued at $5,367,000 after purchasing an additional 22,914 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Up 1.3%

Shares of NASDAQ:AXSM opened at $156.08 on Friday. The company has a 50 day moving average of $175.92 and a 200-day moving average of $149.70. 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 $7.98 billion, a P/E ratio of -42.30 and a beta of 0.43. Axsome Therapeutics, Inc. has a twelve month low of $86.99 and a twelve month high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.14. The business had revenue of $196.00 million for the quarter, compared to analyst estimates of $191.33 million. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The company’s quarterly revenue was up 65.0% compared to the same quarter last year. As a group, analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the sale, the director owned 10,002 shares in the company, valued at $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 35,378 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $161.88, for a total value of $5,726,990.64. The SEC filing for this sale provides additional information. Insiders sold a total of 289,279 shares of company stock worth $49,496,963 in the last quarter. 22.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several analyst reports. Robert W. Baird set a $209.00 price objective on Axsome Therapeutics in a research report on Tuesday, January 13th. Morgan Stanley set a $207.00 target price on Axsome Therapeutics in a research report on Tuesday, February 24th. TD Cowen reaffirmed a “buy” rating on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Piper Sandler boosted their price target on Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Jefferies Financial Group set a $215.00 price target on Axsome Therapeutics in a research note on Monday, February 23rd. Seventeen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $216.12.

Axsome Therapeutics 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.