Healthcare of Ontario Pension Plan Trust Fund Invests $16.49 Million in Axsome Therapeutics, Inc. $AXSM

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 97,550 shares of the company’s stock, valued at approximately $16,488,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.19% of Axsome Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXSM. Caxton Associates LLP purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $729,000. Inceptionr LLC lifted its stake in Axsome Therapeutics by 3.2% in the first quarter. Inceptionr LLC now owns 4,060 shares of the company’s stock valued at $686,000 after purchasing an additional 126 shares during the last quarter. Sei Investments Co. grew its holdings in Axsome Therapeutics by 47.2% during the first quarter. Sei Investments Co. now owns 70,064 shares of the company’s stock valued at $11,842,000 after purchasing an additional 22,464 shares during the period. Cetera Investment Advisers grew its holdings in Axsome Therapeutics by 10.4% during the first quarter. Cetera Investment Advisers now owns 10,719 shares of the company’s stock valued at $1,812,000 after purchasing an additional 1,013 shares during the period. Finally, NewEdge Wealth LLC purchased a new stake in Axsome Therapeutics in the first quarter worth $619,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 6,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the completion of the transaction, the director directly owned 35,140 shares in the company, valued at approximately $8,092,742. The trade was a 14.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 155,852 shares of company stock valued at $37,230,112 in the last three months. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $238.37 on Tuesday. The stock’s 50-day simple moving average is $239.46 and its 200 day simple moving average is $201.27. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of -63.91 and a beta of 0.60. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. The firm’s revenue was up 57.4% on a year-over-year basis. Research analysts forecast that Axsome Therapeutics, Inc. will post -2.45 EPS for the current fiscal year.

Analyst Ratings Changes

AXSM has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $290.00 target price on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Wells Fargo & Company lifted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. UBS Group boosted their price objective on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Finally, Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $261.48.

About Axsome Therapeutics

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.