Ieq Capital LLC Takes $1.89 Million Position in Axsome Therapeutics, Inc. $AXSM

Ieq Capital LLC purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 7,730 shares of the company’s stock, valued at approximately $1,892,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXSM. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $31,000. Hollencrest Capital Management raised its stake in Axsome Therapeutics by 400.0% in the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares during the period. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $37,000. Advisory Services Network LLC acquired a new stake in Axsome Therapeutics during the 3rd quarter valued at $40,000. Finally, Farther Finance Advisors LLC boosted its position in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares during the period. Institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. UBS Group reiterated a “buy” rating on shares of Axsome Therapeutics in a research note on Monday. TD Cowen increased their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Guggenheim raised their price objective on shares of Axsome Therapeutics from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Mizuho boosted their price objective on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $267.60.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark Coleman sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the transaction, the director directly owned 35,140 shares of the company’s stock, valued at approximately $8,092,742. This trade represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Up 0.0%

AXSM opened at $205.48 on Wednesday. The stock has a fifty day moving average of $230.24 and a 200-day moving average of $206.43. The company has a market capitalization of $10.76 billion, a P/E ratio of -54.79 and a beta of 0.65. Axsome Therapeutics, Inc. has a fifty-two week low of $112.90 and a fifty-two week high of $260.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The business had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.78 EPS for the current 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.