SG Americas Securities LLC Increases Stake in Axsome Therapeutics, Inc. $AXSM

SG Americas Securities LLC raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 79.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,097 shares of the company’s stock after purchasing an additional 5,368 shares during the quarter. SG Americas Securities LLC’s holdings in Axsome Therapeutics were worth $1,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Axsome Therapeutics by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock valued at $103,303,000 after buying an additional 54,600 shares during the last quarter. State Street Corp increased its position in shares of Axsome Therapeutics by 5.8% in the second quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after acquiring an additional 52,483 shares during the period. Bank of America Corp DE increased its position in shares of Axsome Therapeutics by 41.1% in the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock valued at $78,650,000 after acquiring an additional 219,527 shares during the period. Man Group plc raised its stake in shares of Axsome Therapeutics by 2.3% during the second quarter. Man Group plc now owns 525,069 shares of the company’s stock valued at $54,812,000 after acquiring an additional 11,848 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Axsome Therapeutics during the second quarter worth about $48,889,000. Institutional investors own 81.49% of the company’s stock.

Insider Activity

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $132.34, for a total value of $12,136,239.70. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $956,685.86. This represents a 92.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark E. Saad sold 37,577 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total transaction of $6,206,968.86. Following the transaction, the director directly owned 10,002 shares of the company’s stock, valued at $1,652,130.36. This represents a 78.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 420,903 shares of company stock valued at $63,552,838. 22.30% of the stock is owned by company insiders.

Axsome Therapeutics Trading Up 1.8%

AXSM opened at $177.27 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 52 week low of $86.99 and a 52 week high of $184.40. The stock has a market cap of $8.94 billion, a PE ratio of -37.96, a PEG ratio of 8.60 and a beta of 0.44. The business has a 50 day moving average of $154.83 and a 200-day moving average of $130.33.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The firm had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The company’s revenue for the quarter was up 63.2% compared to the same quarter last year. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Guggenheim restated a “buy” rating and set a $205.00 price target on shares of Axsome Therapeutics in a report on Friday, January 2nd. Cowen reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. Piper Sandler raised their price target on Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Morgan Stanley cut shares of Axsome Therapeutics from an “overweight” rating to a “reduce” rating in a report on Thursday, January 8th. Nineteen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $198.67.

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.