BVF Inc. IL Sells 441,000 Shares of Axsome Therapeutics, Inc. $AXSM

BVF Inc. IL lowered its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 90.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 45,757 shares of the company’s stock after selling 441,000 shares during the period. BVF Inc. IL owned approximately 0.09% of Axsome Therapeutics worth $8,357,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. 9823 Capital L.P. acquired a new position in Axsome Therapeutics during the 4th quarter valued at about $222,000. Guggenheim Capital LLC boosted its stake in Axsome Therapeutics by 4.1% during the 4th quarter. Guggenheim Capital LLC now owns 13,030 shares of the company’s stock valued at $2,380,000 after purchasing an additional 513 shares during the last quarter. PDT Partners LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at about $653,000. Abel Hall LLC acquired a new position in Axsome Therapeutics during the 4th quarter valued at about $214,000. Finally, Trexquant Investment LP boosted its stake in Axsome Therapeutics by 416.1% during the 4th quarter. Trexquant Investment LP now owns 49,136 shares of the company’s stock valued at $8,974,000 after purchasing an additional 39,615 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

In other news, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the transaction, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the transaction, the insider directly owned 7,500 shares of the company’s stock, valued at approximately $1,368,150. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,686 shares of company stock valued at $26,666,006 over the last quarter. Corporate insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

AXSM stock opened at $252.16 on Thursday. The firm has a market cap of $12.98 billion, a PE ratio of -67.60 and a beta of 0.61. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The business has a 50 day moving average of $215.95 and a 200-day moving average of $184.31. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $257.92.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to the consensus estimate 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 was up 57.4% compared to the same quarter last year. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Analysts Set New Price Targets

AXSM has been the subject of a number of analyst reports. UBS Group lifted their price target on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Monday. Mizuho raised their price target on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Needham & Company LLC raised their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.95.

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.