Virtu Financial LLC Takes $2.84 Million Position in Axsome Therapeutics, Inc. $AXSM

Virtu Financial LLC acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,573 shares of the company’s stock, valued at approximately $2,844,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Axsome Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares in the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in Axsome Therapeutics during the fourth quarter worth about $1,826,000. Aberdeen Group plc lifted its position in shares of Axsome Therapeutics by 15.5% during the third 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 in the last quarter. TD Asset Management Inc lifted its position in shares of Axsome Therapeutics by 107.7% during the third quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock worth $5,367,000 after purchasing an additional 22,914 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Axsome Therapeutics by 20.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock valued at $79,643,000 after purchasing an additional 73,925 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AXSM shares. TD Cowen lifted their price objective on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC increased their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. UBS Group boosted their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Finally, Wells Fargo & Company upped their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.95.

Axsome Therapeutics Stock Down 0.7%

AXSM stock opened at $250.50 on Friday. The company’s 50 day moving average price is $217.59 and its 200 day moving average price is $185.01. 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 fifty-two week low of $96.09 and a fifty-two week high of $260.19. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of -67.16 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,742,261.29. This trade represents a 87.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger Jeffs sold 286 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the sale, the director owned 58,653 shares in the company, valued at $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. 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 90 days, insiders sold 113,686 shares of company stock worth $26,666,006. Corporate insiders own 20.60% of the company’s stock.

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.