Axsome Therapeutics, Inc. $AXSM Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC decreased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 107,817 shares of the company’s stock after selling 4,241 shares during the quarter. WCM Investment Management LLC’s holdings in Axsome Therapeutics were worth $17,305,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Axsome Therapeutics by 22.0% in the first quarter. Dimensional Fund Advisors LP now owns 15,160 shares of the company’s stock valued at $2,562,000 after buying an additional 2,729 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in Axsome Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $1,088,000 after acquiring an additional 350 shares in the last quarter. Swiss National Bank boosted its holdings in Axsome Therapeutics by 0.3% in the 1st quarter. Swiss National Bank now owns 69,100 shares of the company’s stock worth $11,679,000 after acquiring an additional 200 shares during the period. California Public Employees Retirement System purchased a new position in Axsome Therapeutics in the 1st quarter worth approximately $8,600,000. Finally, Assetmark Inc. boosted its holdings in Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AXSM shares. Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Oppenheimer set a $280.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. UBS Group lifted 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, Cantor Fitzgerald reiterated an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $259.05.

Axsome Therapeutics Price Performance

AXSM stock opened at $230.00 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19. The stock’s 50 day moving average is $238.35 and its two-hundred day moving average is $198.58. The company has a market capitalization of $11.84 billion, a PE ratio of -61.66 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Analysts predict that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the sale, the director directly owned 58,653 shares of the company’s stock, valued at $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares in the company, valued at $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 163,352 shares of company stock valued at $38,598,262. 20.60% of the stock is owned by 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.