Cormorant Asset Management LP Sells 25,000 Shares of Axsome Therapeutics, Inc. $AXSM

Cormorant Asset Management LP cut its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,000 shares of the company’s stock after selling 25,000 shares during the quarter. Axsome Therapeutics accounts for about 0.6% of Cormorant Asset Management LP’s investment portfolio, making the stock its 26th largest holding. Cormorant Asset Management LP’s holdings in Axsome Therapeutics were worth $13,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Axsome Therapeutics by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after purchasing an additional 1,002 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Axsome Therapeutics by 2,407.9% during the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock valued at $889,000 after purchasing an additional 7,320 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock valued at $35,189,000 after acquiring an additional 84,151 shares in the last quarter. Caxton Associates LLP purchased a new position in Axsome Therapeutics in the 1st quarter worth approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Axsome Therapeutics by 29.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after buying an additional 17,250 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Roger Jeffs sold 286 shares of the 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 owned 58,653 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director directly owned 1,129 shares in the company, valued at approximately $267,810.09. This trade represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 113,686 shares of company stock valued at $26,666,006. 20.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research note on Tuesday, May 5th. Needham & Company LLC lifted their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. Robert W. Baird upped their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, UBS Group raised 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. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.95.

Axsome Therapeutics Trading Up 0.1%

NASDAQ AXSM opened at $252.16 on Thursday. The company has a fifty day simple moving average of $215.95 and a two-hundred day simple moving average of $184.31. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $257.92. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The stock has a market cap of $12.98 billion, a P/E ratio of -67.60 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm 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%. Axsome Therapeutics’s revenue was up 57.4% compared to the same quarter last year. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Axsome Therapeutics 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.