Axsome Therapeutics, Inc. $AXSM Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 31.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,558 shares of the company’s stock after selling 39,968 shares during the period. Granite Investment Partners LLC owned 0.18% of Axsome Therapeutics worth $10,755,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AXSM. Stanley Laman Group Ltd. acquired a new stake in Axsome Therapeutics during the third quarter worth $2,125,000. Aberdeen Group plc grew its holdings in shares of Axsome Therapeutics by 15.5% during the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock worth $11,495,000 after purchasing an additional 12,732 shares during the period. Swiss National Bank grew its holdings in shares of Axsome Therapeutics by 6.9% during the 2nd quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after purchasing an additional 4,200 shares during the period. Bank of New York Mellon Corp increased its position in shares of Axsome Therapeutics by 55.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock worth $21,257,000 after purchasing an additional 72,609 shares during the last quarter. Finally, Cabot Wealth Management Inc. purchased a new stake in Axsome Therapeutics in the 3rd quarter valued at about $675,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 32,410 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,341,702.40. This represents a 81.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 308,874 shares of company stock valued at $51,390,805 in the last three months. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $183.72 on Monday. 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 $191.50. The firm has a market cap of $9.26 billion, a PE ratio of -39.34, a price-to-earnings-growth ratio of 13.22 and a beta of 0.40. The company’s 50 day moving average is $173.88 and its two-hundred day moving average is $144.44.

Analysts Set New Price Targets

Several research analysts have weighed in on AXSM shares. Wells Fargo & Company increased their target price 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. Oppenheimer restated an “outperform” rating and issued a $220.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Royal Bank Of Canada increased their price objective on shares of Axsome Therapeutics from $212.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Mizuho set a $230.00 target price on Axsome Therapeutics in a research report on Thursday. Finally, Robert W. Baird set a $209.00 price target on Axsome Therapeutics in a research report on Tuesday, January 13th. Sixteen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.07.

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.