Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by abrdn plc

abrdn plc cut its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 72.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,048 shares of the company’s stock after selling 28,627 shares during the quarter. abrdn plc’s holdings in Axsome Therapeutics were worth $993,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sofinnova Investments Inc. purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $24,971,000. Tri Locum Partners LP raised its stake in shares of Axsome Therapeutics by 198.4% in the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company’s stock valued at $24,674,000 after acquiring an additional 203,802 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Axsome Therapeutics in the first quarter valued at $11,036,000. Hood River Capital Management LLC grew its stake in Axsome Therapeutics by 32.6% during the 1st quarter. Hood River Capital Management LLC now owns 520,750 shares of the company’s stock worth $41,556,000 after purchasing an additional 127,997 shares in the last quarter. Finally, Affinity Asset Advisors LLC increased its holdings in Axsome Therapeutics by 179.5% during the 1st quarter. Affinity Asset Advisors LLC now owns 139,758 shares of the company’s stock worth $11,153,000 after purchasing an additional 89,758 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction 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 approximately $913,282.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. HC Wainwright reissued a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. UBS Group cut their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $87.25 on Tuesday. The firm has a market capitalization of $4.14 billion, a PE ratio of -13.40 and a beta of 1.26. The stock’s 50 day moving average is $90.19 and its two-hundred day moving average is $83.07. Axsome Therapeutics, Inc. has a twelve month low of $55.02 and a twelve month high of $98.40. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. Research analysts anticipate that Axsome Therapeutics, Inc. will post -5.12 earnings per share for the current year.

About Axsome Therapeutics

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.