Cannell & Co. Lowers Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Cannell & Co. lowered its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,845 shares of the company’s stock after selling 21,345 shares during the period. Cannell & Co. owned about 0.18% of Axsome Therapeutics worth $6,594,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Washington Trust Advisors Inc. acquired a new position in shares of Axsome Therapeutics in the fourth quarter worth about $26,000. Fifth Third Bancorp raised its position in shares of Axsome Therapeutics by 100.0% in the third quarter. Fifth Third Bancorp now owns 400 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Axsome Therapeutics by 110.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,204 shares of the company’s stock worth $84,000 after acquiring an additional 633 shares during the period. SG Americas Securities LLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth about $170,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth about $204,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AXSM shares. Mizuho upped their price target on shares of Axsome Therapeutics from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Piper Sandler upped their price target on shares of Axsome Therapeutics from $90.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Morgan Stanley upgraded shares of Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $115.00 in a research report on Monday. Guggenheim upped their price target on shares of Axsome Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

Insider Activity

In other news, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $69.70, for a total value of $2,089,327.20. Following the completion of the sale, the director now owns 120,756 shares of the company’s stock, valued at approximately $8,416,693.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Mark L. Jacobson sold 24,662 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $77.24, for a total transaction of $1,904,892.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger Jeffs sold 29,976 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $69.70, for a total transaction of $2,089,327.20. Following the sale, the director now owns 120,756 shares in the company, valued at $8,416,693.20. The disclosure for this sale can be found here. Corporate insiders own 24.50% of the company’s stock.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $74.89 on Thursday. The firm has a 50 day simple moving average of $74.62 and a 200-day simple moving average of $75.37. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.63 and a quick ratio of 3.52.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.48. Axsome Therapeutics had a negative net margin of 88.41% and a negative return on equity of 70.67%. The business had revenue of $71.53 million during the quarter, compared to analysts’ expectations of $70.38 million. Sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -3.75 earnings per share 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.