Axsome Therapeutics, Inc. $AXSM Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 27,073.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,176,933 shares of the company’s stock after buying an additional 11,135,801 shares during the quarter. California State Teachers Retirement System owned about 0.21% of Axsome Therapeutics worth $2,735,778,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXSM. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter worth $31,000. Hollencrest Capital Management boosted its stake in 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 acquiring an additional 160 shares in the last quarter. Ameriflex Group Inc. acquired a new position in Axsome Therapeutics in the fourth quarter valued at $37,000. Advisory Services Network LLC purchased a new position in shares of Axsome Therapeutics during the third quarter worth about $40,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Axsome Therapeutics during the third quarter worth about $61,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Up 0.2%

Shares of Axsome Therapeutics stock opened at $211.12 on Friday. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year 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. The company has a market capitalization of $11.06 billion, a P/E ratio of -56.30 and a beta of 0.71. The company’s fifty day moving average is $221.12 and its two-hundred day moving average is $208.36.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $221.11 million. Analysts forecast that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,666 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total value of $11,932,256.50. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. This trade represents a 87.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mark Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $208.65, for a total transaction of $2,086,500.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares in the company, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,330 shares of company stock worth $24,557,062 over the last quarter. Company insiders own 20.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AXSM shares. Needham & Company LLC lifted their target price on Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. UBS Group reissued a “buy” rating on shares of Axsome Therapeutics in a research report on Monday, August 24th. Wells Fargo & Company raised their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley lifted their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, TD Cowen boosted their price objective on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.