Axsome Therapeutics, Inc. $AXSM Stock Holdings Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 350,488 shares of the company’s stock after selling 12,626 shares during the period. Principal Financial Group Inc. owned about 0.68% of Axsome Therapeutics worth $59,239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXSM. Kemnay Advisory Services Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $31,000. Ameriflex Group Inc. acquired a new position in Axsome Therapeutics in the fourth quarter worth approximately $37,000. Advisory Services Network LLC bought a new position in Axsome Therapeutics during the third quarter valued at approximately $40,000. GAMMA Investing LLC raised its position in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after acquiring an additional 106 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after acquiring an additional 235 shares during the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Down 3.0%

NASDAQ:AXSM opened at $230.00 on Friday. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of -61.66 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The company’s 50 day moving average is $238.35 and its 200-day moving average is $198.24.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AXSM. Wells Fargo & Company boosted their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. TD Cowen lifted their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Mizuho increased their target price on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Morgan Stanley upgraded Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $259.05.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 4,517 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the transaction, the chief operating officer owned 4,517 shares of the company’s stock, valued at $1,029,604.98. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 163,352 shares of company stock worth $38,598,262. Corporate insiders own 20.60% of the company’s stock.

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.