Entropy Technologies LP Acquires Shares of 8,192 Axsome Therapeutics, Inc. $AXSM

Entropy Technologies LP purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter, Holdings Channel reports. The firm purchased 8,192 shares of the company’s stock, valued at approximately $1,496,000.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Norges Bank acquired a new position in Axsome Therapeutics during the fourth quarter worth $90,490,000. Invesco Ltd. boosted its stake in Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after buying an additional 419,008 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock valued at $46,662,000 after buying an additional 399,000 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Axsome Therapeutics by 566.5% in the 3rd quarter. Marshall Wace LLP now owns 378,024 shares of the company’s stock worth $45,911,000 after acquiring an additional 321,308 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ari Maizel sold 7,500 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the sale, the insider owned 7,500 shares of the company’s stock, valued at approximately $1,368,150. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 113,686 shares of company stock worth $26,666,006. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $253.40 on Tuesday. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $257.92. The company has a fifty day simple moving average of $212.64 and a two-hundred day simple moving average of $182.89. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The company has a market cap of $13.04 billion, a price-to-earnings ratio of -67.94 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wolfe Research initiated coverage on shares of Axsome Therapeutics in a research report on Monday, February 23rd. They set an “outperform” rating and a $230.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. UBS Group raised their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Needham & Company LLC upped their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $256.79.

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.