Engineers Gate Manager LP Has $2.74 Million Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Engineers Gate Manager LP decreased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 31.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,198 shares of the company’s stock after selling 5,186 shares during the quarter. Engineers Gate Manager LP’s holdings in Axsome Therapeutics were worth $2,741,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AXSM. Integrated Wealth Concepts LLC acquired a new position in Axsome Therapeutics in the 2nd quarter valued at about $251,000. NewEdge Advisors LLC acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $277,000. IFP Advisors Inc lifted its position in Axsome Therapeutics by 2.1% during the second quarter. IFP Advisors Inc now owns 62,273 shares of the company’s stock worth $15,243,000 after acquiring an additional 1,279 shares during the last quarter. Baird Financial Group Inc. bought a new stake in shares of Axsome Therapeutics during the second quarter worth approximately $2,497,000. Finally, Allworth Financial LP boosted its holdings in shares of Axsome Therapeutics by 5.7% during the second quarter. Allworth Financial LP now owns 1,566 shares of the company’s stock worth $383,000 after acquiring an additional 84 shares during the period. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 1.9%

AXSM opened at $216.58 on Tuesday. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of -57.75 and a beta of 0.71. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a twelve month low of $112.90 and a twelve month high of $260.19. The company has a 50-day simple moving average of $220.13 and a 200 day simple moving average of $209.01.

Axsome Therapeutics (NASDAQ:AXSM) last issued its 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 firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Analysts predict that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer owned 10,000 shares in the company, valued at $2,086,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Herriot Tabuteau sold 4,660 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $213.95, for a total transaction of $997,007.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,546,644.55. This trade represents a 39.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 109,330 shares of company stock valued at $24,557,062. 20.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AXSM. Wells Fargo & Company boosted their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. BMO Capital Markets assumed coverage on Axsome Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $310.00 price objective on the stock. UBS Group reissued a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. TD Cowen boosted their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Profile

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.