HighVista Strategies LLC Has $5.01 Million Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

HighVista Strategies LLC grew its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 28.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,192 shares of the company’s stock after buying an additional 13,665 shares during the quarter. Axsome Therapeutics accounts for approximately 1.8% of HighVista Strategies LLC’s portfolio, making the stock its 5th largest holding. HighVista Strategies LLC owned about 0.13% of Axsome Therapeutics worth $5,006,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Perceptive Advisors LLC raised its holdings in Axsome Therapeutics by 115.5% during the 4th quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock valued at $82,616,000 after buying an additional 556,370 shares during the last quarter. Sofinnova Investments Inc. bought a new position in shares of Axsome Therapeutics during the second quarter valued at about $24,971,000. Point72 Asset Management L.P. raised its stake in shares of Axsome Therapeutics by 57.4% during the fourth quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock valued at $66,633,000 after acquiring an additional 305,264 shares during the last quarter. Norges Bank purchased a new stake in shares of Axsome Therapeutics during the fourth quarter worth about $15,530,000. Finally, Avidity Partners Management LP grew its stake in shares of Axsome Therapeutics by 54.8% in the fourth quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after purchasing an additional 162,600 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AXSM. HC Wainwright reaffirmed a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Royal Bank of Canada decreased their target price on Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.57.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the 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 transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $487,275.58. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $95.84 on Monday. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The firm’s 50-day simple moving average is $87.93 and its two-hundred day simple moving average is $79.67. The stock has a market cap of $4.55 billion, a PE ratio of -15.02 and a beta of 1.25. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $84.53 million. Analysts anticipate that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current fiscal 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.