Axsome Therapeutics, Inc. $AXSM Stock Holdings Lifted by First Trust Advisors LP

First Trust Advisors LP lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1,230.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 577,479 shares of the company’s stock after acquiring an additional 534,066 shares during the quarter. First Trust Advisors LP’s holdings in Axsome Therapeutics were worth $97,606,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AXSM. Birchview Capital LP raised its position in shares of Axsome Therapeutics by 1.0% during the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after purchasing an additional 61 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after purchasing an additional 65 shares during the period. Xponance LLC increased its stake in Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares in the last quarter. Assetmark Inc. increased its stake in Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after purchasing an additional 79 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Axsome Therapeutics by 6.6% during the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after buying an additional 89 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction on 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 trade represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director directly owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 155,852 shares of company stock worth $37,230,112. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $241.00 on Friday. The company has a 50 day simple moving average of $239.25 and a 200-day simple moving average of $200.60. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of -64.61 and a beta of 0.60. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations 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 was up 57.4% compared to the same quarter last year. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AXSM shares. Mizuho raised their target price on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. UBS Group upped their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Needham & Company LLC lifted their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $261.48.

Axsome Therapeutics Company 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.