Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Acquired by Quarry LP

Quarry LP lifted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 77.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,200 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Quarry LP’s holdings in Axsome Therapeutics were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXSM. Avidity Partners Management LP boosted its position in shares of Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after buying an additional 162,600 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Axsome Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company’s stock worth $298,474,000 after purchasing an additional 43,512 shares in the last quarter. Bellevue Group AG raised its position in shares of Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company’s stock worth $54,701,000 after purchasing an additional 50,104 shares during the last quarter. Affinity Asset Advisors LLC purchased a new stake in Axsome Therapeutics in the 4th quarter valued at approximately $3,980,000. Finally, XTX Topco Ltd grew its holdings in Axsome Therapeutics by 177.9% during the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company’s stock valued at $902,000 after buying an additional 7,173 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the 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 $913,282.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mark E. Saad sold 11,016 shares of the business’s 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 transaction, the director now directly owns 10,002 shares of the company’s stock, valued at $913,282.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were 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 directly owns 5,783 shares of the company’s stock, valued at $487,275.58. The disclosure for this sale can be found here. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $89.64 on Monday. The firm’s fifty day simple moving average is $88.60 and its 200 day simple moving average is $80.27. 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, Inc. has a twelve month low of $55.02 and a twelve month high of $98.40. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -14.05 and a beta of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 5th. The company reported ($1.24) EPS 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 company had revenue of $87.17 million for the quarter, compared to analyst estimates of $84.53 million. As a group, equities research analysts expect that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho reiterated a “buy” rating and set a $106.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. UBS Group reduced their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.57.

Axsome Therapeutics Company 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.