Y Intercept Hong Kong Ltd Acquires 17,895 Shares of Axsome Therapeutics, Inc. $AXSM

Y Intercept Hong Kong Ltd raised its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 140.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,640 shares of the company’s stock after purchasing an additional 17,895 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Axsome Therapeutics were worth $3,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Axsome Therapeutics in the 1st quarter valued at $25,000. Quantbot Technologies LP bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $31,000. AlphaQuest LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $38,000. Neo Ivy Capital Management bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $41,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $47,000. Institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXSM shares. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Royal Bank Of Canada upped their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Bank of America upped their target price on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, B. Riley started coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $178.20.

Axsome Therapeutics Stock Down 0.1%

Shares of NASDAQ:AXSM opened at $133.33 on Thursday. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13. The company’s 50-day moving average price is $122.43 and its two-hundred day moving average price is $112.11. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The firm has a market cap of $6.65 billion, a P/E ratio of -26.30 and a beta of 0.52.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 12,774 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $118.84, for a total value of $1,518,062.16. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $859,094.36. This trade represents a 63.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark E. Saad sold 9,127 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $125.07, for a total transaction of $1,141,513.89. Following the completion of the transaction, the director directly owned 10,002 shares in the company, valued at $1,250,950.14. This trade represents a 47.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 243,332 shares of company stock worth $28,824,746 in the last quarter. Insiders own 22.30% of the company’s stock.

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.