33,554 Shares in Axsome Therapeutics, Inc. $AXSM Bought by Readystate Asset Management LP

Readystate Asset Management LP purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,554 shares of the company’s stock, valued at approximately $8,213,000. Readystate Asset Management LP owned approximately 0.06% of Axsome Therapeutics at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Axsome Therapeutics by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after purchasing an additional 1,002 shares during the period. Jones Financial Companies Lllp lifted its stake in Axsome Therapeutics by 2,407.9% in the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after purchasing an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Axsome Therapeutics by 38.7% during the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after purchasing an additional 84,151 shares during the period. Caxton Associates LLP acquired a new position in Axsome Therapeutics during the first quarter worth approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Axsome Therapeutics by 29.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after buying an additional 17,250 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the subject of several research analyst reports. Royal Bank Of Canada reduced their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. BMO Capital Markets began coverage on Axsome Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $310.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. UBS Group reaffirmed a “buy” rating on shares of Axsome Therapeutics in a report on Monday, August 24th. Finally, TD Cowen boosted their price target 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 equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Axsome Therapeutics Stock Performance

Shares of AXSM opened at $206.68 on Monday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of -55.11 and a beta of 0.71. The business’s fifty day moving average is $223.81 and its 200-day moving average is $207.66.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the sale, the director owned 30,389 shares of the company’s stock, valued at $7,566,861. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares in the company, valued at $267,810.09. This represents a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 193,229 shares of company stock valued at $44,752,676. 20.60% of the stock is owned by company insiders.

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.