Headlands Technologies LLC Makes New $616,000 Investment in Axsome Therapeutics, Inc. $AXSM

Headlands Technologies LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,517 shares of the company’s stock, valued at approximately $616,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kemnay Advisory Services Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $31,000. Hollencrest Capital Management lifted its holdings in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 160 shares during the last quarter. Ameriflex Group Inc. bought a new position in Axsome Therapeutics in the fourth quarter worth about $37,000. ABS Investment Management LLC acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $171,339,000. Finally, Silvant Capital Management LLC acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $66,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the sale, the director owned 30,389 shares of the company’s stock, valued at $7,566,861. The trade was a 2.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. The trade was a 43.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 183,229 shares of company stock valued at $42,666,176. 20.60% of the stock is currently owned by insiders.

Axsome Therapeutics Trading Up 3.5%

Axsome Therapeutics stock opened at $209.92 on Thursday. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of -55.98 and a beta of 0.71. The firm has a 50-day moving average price of $225.10 and a two-hundred day moving average price of $207.29.

Axsome Therapeutics (NASDAQ:AXSM) last announced 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). The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BMO Capital Markets assumed coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 target price for the company. Royal Bank Of Canada cut their price target on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Guggenheim boosted their price objective on Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $290.00 target price on shares of Axsome Therapeutics in a research report on Monday. Two investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

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.