Van ECK Associates Corp Sells 8,364 Shares of Axsome Therapeutics, Inc. $AXSM

Van ECK Associates Corp trimmed its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 22.2% during the second quarter, Holdings Channel.com reports. The firm owned 29,309 shares of the company’s stock after selling 8,364 shares during the period. Van ECK Associates Corp’s holdings in Axsome Therapeutics were worth $7,174,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new stake in Axsome Therapeutics during the 4th quarter valued at $31,000. Hollencrest Capital Management lifted its stake in shares of Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 160 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at $37,000. Advisory Services Network LLC acquired a new position in shares of Axsome Therapeutics during the third quarter valued at about $40,000. Finally, Farther Finance Advisors LLC increased its position in shares of 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 acquiring an additional 235 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $202.83 on Wednesday. The stock has a 50 day moving average of $225.66 and a 200 day moving average of $207.10. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of -54.09 and a beta of 0.65. Axsome Therapeutics, Inc. has a 12 month low of $112.90 and a 12 month high of $260.19. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The business had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on AXSM. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Zacks Research raised Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Mizuho raised their target price on Axsome Therapeutics from $306.00 to $316.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, Needham & Company LLC lifted their target price on Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Insider Activity at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 4,660 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $213.95, for a total transaction of $997,007.00. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,546,644.55. This trade represents a 39.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 183,229 shares of company stock worth $42,666,176. 20.60% of the stock is owned by company insiders.

About Axsome Therapeutics

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.