Rhumbline Advisers Acquires 2,674 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Rhumbline Advisers increased its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,931 shares of the company’s stock after purchasing an additional 2,674 shares during the period. Rhumbline Advisers owned approximately 0.12% of Axsome Therapeutics worth $4,422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Peregrine Capital Management LLC raised its holdings in shares of Axsome Therapeutics by 1.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 87,373 shares of the company’s stock worth $7,034,000 after buying an additional 1,238 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Axsome Therapeutics by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 165,564 shares of the company’s stock worth $13,328,000 after acquiring an additional 11,793 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Axsome Therapeutics during the second quarter valued at $2,735,000. Flower City Capital acquired a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $242,000. Finally, Wesbanco Bank Inc. grew its holdings in shares of Axsome Therapeutics by 60.2% in the 2nd quarter. Wesbanco Bank Inc. now owns 13,300 shares of the company’s stock worth $1,071,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Insider Activity at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXSM shares. Mizuho reissued a “buy” rating and set a $106.00 price target on shares of Axsome Therapeutics in a report on Wednesday, June 12th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Friday, September 6th. Wells Fargo & Company started coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.57.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $93.67 on Monday. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of -14.68 and a beta of 1.25. The firm has a fifty day moving average of $86.92 and a two-hundred day moving average of $79.15.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The firm had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. As a group, equities research analysts predict that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.