Axsome Therapeutics, Inc. $AXSM Position Trimmed by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 11.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 27,027 shares of the company’s stock after selling 3,613 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Axsome Therapeutics were worth $3,282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXSM. Stanley Laman Group Ltd. bought a new position in Axsome Therapeutics during the third quarter worth $2,125,000. Swiss National Bank boosted its stake in Axsome Therapeutics by 6.9% in the second quarter. Swiss National Bank now owns 65,200 shares of the company’s stock valued at $6,806,000 after acquiring an additional 4,200 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Axsome Therapeutics by 55.4% in the second quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock valued at $21,257,000 after purchasing an additional 72,609 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Axsome Therapeutics by 62.9% in the third quarter. Assenagon Asset Management S.A. now owns 294,771 shares of the company’s stock valued at $35,800,000 after acquiring an additional 113,811 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 154.5% during the second quarter. Los Angeles Capital Management LLC now owns 4,424 shares of the company’s stock worth $462,000 after purchasing an additional 2,686 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Down 0.3%

Shares of AXSM stock opened at $185.44 on Tuesday. The company has a market cap of $9.35 billion, a PE ratio of -39.71, a price-to-earnings-growth ratio of 9.80 and a beta of 0.44. Axsome Therapeutics, Inc. has a 1 year low of $86.99 and a 1 year high of $191.50. The stock’s 50 day simple moving average is $160.17 and its two-hundred day simple moving average is $133.94. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The business’s revenue was up 63.2% on a year-over-year basis. Research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on AXSM. Morgan Stanley lowered Axsome Therapeutics from an “overweight” rating to a “reduce” rating in a research report on Thursday, January 8th. Piper Sandler upped their price target on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. HC Wainwright boosted their target price on shares of Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their price target on shares of Axsome Therapeutics from $157.00 to $193.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Nineteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.17.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $132.34, for a total value of $12,136,239.70. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $956,685.86. This represents a 92.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Nick Pizzie sold 12,000 shares of Axsome Therapeutics stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the completion of the sale, the chief financial officer owned 42,588 shares of the company’s stock, valued at $8,003,136.96. The trade was a 21.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 440,403 shares of company stock worth $67,191,178 over the last 90 days. Company insiders own 22.40% of the company’s stock.

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.