12,955 Shares in Axsome Therapeutics, Inc. $AXSM Purchased by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,955 shares of the company’s stock, valued at approximately $2,366,000. Axsome Therapeutics accounts for approximately 1.8% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 7th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of AXSM. Wellington Management Group LLP increased its position in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after buying an additional 609,516 shares in the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $90,490,000. Price T Rowe Associates Inc. MD raised its position in shares of Axsome Therapeutics by 45.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after buying an additional 419,008 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Axsome Therapeutics by 831.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after buying an additional 399,000 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a report on Thursday, June 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Robert W. Baird increased their price objective on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $258.95.

Insiders Place Their Bets

In related news, Director Mark Coleman sold 643 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director owned 30,389 shares in the company, valued at $7,566,861. This represents a 2.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the sale, the director directly owned 58,653 shares of the company’s stock, valued at $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 113,686 shares of company stock worth $26,666,006. Corporate insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Down 0.7%

Axsome Therapeutics stock opened at $250.50 on Friday. The stock’s fifty day moving average is $217.59 and its two-hundred day moving average is $185.01. The stock has a market cap of $12.89 billion, a PE ratio of -67.16 and a beta of 0.61. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $260.19. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.24 EPS for the current fiscal year.

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.