VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.10 Million in Axsome Therapeutics, Inc. $AXSM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,500 shares of the company’s stock, valued at approximately $1,101,000.

A number of other institutional investors have also made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new stake in Axsome Therapeutics during the 4th quarter valued at $31,000. Hollencrest Capital Management increased its holdings in shares of Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Axsome Therapeutics in the fourth quarter valued at $37,000. ABS Investment Management LLC bought a new position in shares of Axsome Therapeutics in the second quarter valued at about $171,339,000. Finally, Silvant Capital Management LLC bought a new position in shares of Axsome Therapeutics in the second quarter valued at about $66,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC lifted their target price on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. Morgan Stanley increased their price target on shares of Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Royal Bank Of Canada reduced their price objective on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $267.60.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $220.75 on Friday. Axsome Therapeutics, Inc. has a 12-month low of $112.90 and a 12-month high of $260.19. The company’s 50 day moving average price is $220.65 and its two-hundred day moving average price is $208.44. The firm has a market cap of $11.56 billion, a PE ratio of -58.87 and a beta of 0.71. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The firm had revenue of $218.38 million during the quarter, compared to the consensus estimate of $221.11 million. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Mark Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer owned 10,000 shares in the company, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 4,660 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $213.95, for a total value of $997,007.00. Following the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,546,644.55. This trade represents a 39.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 109,330 shares of company stock worth $24,557,062. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.