Perceptive Advisors LLC Sells 646,230 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Perceptive Advisors LLC reduced its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 58.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 459,111 shares of the company’s stock after selling 646,230 shares during the quarter. Perceptive Advisors LLC’s holdings in Axsome Therapeutics were worth $36,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXSM. Quarry LP increased its position in Axsome Therapeutics by 77.8% in the second quarter. Quarry LP now owns 3,200 shares of the company’s stock worth $258,000 after purchasing an additional 1,400 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $27,000. Creative Planning boosted its stake in Axsome Therapeutics by 15.9% in the second quarter. Creative Planning now owns 8,365 shares of the company’s stock valued at $673,000 after acquiring an additional 1,149 shares during the last quarter. Algert Global LLC acquired a new stake in Axsome Therapeutics during the 2nd quarter worth $250,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Axsome Therapeutics by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,901 shares of the company’s stock valued at $1,844,000 after acquiring an additional 999 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $487,275.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated 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 owns 10,002 shares in the company, valued at approximately $913,282.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction dated 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 directly owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXSM. Needham & Company LLC restated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. UBS Group decreased their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Mizuho reiterated a “buy” rating and issued a $106.00 target price on shares of Axsome Therapeutics in a report on Wednesday, June 12th. StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.57.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $89.64 on Monday. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $4.26 billion, a P/E ratio of -14.05 and a beta of 1.25. Axsome Therapeutics, Inc. has a 12 month low of $55.02 and a 12 month high of $98.40. The stock has a 50 day moving average of $88.60 and a 200-day moving average of $80.27.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 5th. The company reported ($1.24) 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%. 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.