Sei Investments Co. Buys 22,464 Shares of Axsome Therapeutics, Inc. $AXSM

Sei Investments Co. boosted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 47.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,064 shares of the company’s stock after buying an additional 22,464 shares during the quarter. Sei Investments Co. owned approximately 0.14% of Axsome Therapeutics worth $11,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after acquiring an additional 609,516 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after purchasing an additional 534,066 shares in the last quarter. Norges Bank purchased a new position in Axsome Therapeutics during the fourth quarter worth about $90,490,000. Price T Rowe Associates Inc. MD boosted its holdings in Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after purchasing an additional 472,422 shares during the last quarter. Finally, Invesco Ltd. grew its position in Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after purchasing an additional 419,008 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Herriot Tabuteau sold 49,666 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total value of $11,932,256.50. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. The trade was a 87.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Coleman sold 643 shares of the business’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 sale, the director directly owned 30,389 shares in the company, valued at $7,566,861. The trade was a 2.07% decrease in their position. 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. Over the last quarter, insiders have sold 155,852 shares of company stock valued at $37,230,112. Corporate insiders own 20.60% of the company’s stock.

Axsome Therapeutics Trading Down 7.1%

Shares of Axsome Therapeutics stock opened at $217.99 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19. The stock’s 50-day simple moving average is $239.21 and its 200 day simple moving average is $202.71. The stock has a market capitalization of $11.22 billion, a P/E ratio of -58.44 and a beta of 0.60. 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 (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to analysts’ expectations 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, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AXSM shares. Royal Bank Of Canada increased their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Morgan Stanley raised Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday, June 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Axsome Therapeutics in a research report on Thursday, June 11th. TD Cowen lifted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Zacks Research downgraded Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given 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 target price of $261.29.

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.