2,366 Shares in Axsome Therapeutics, Inc. $AXSM Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,366 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of Axsome Therapeutics by 574.9% in the second quarter. Russell Investments Group Ltd. now owns 17,804 shares of the company’s stock worth $1,859,000 after buying an additional 15,166 shares during the period. Ameritas Investment Partners Inc. lifted its position in Axsome Therapeutics by 10.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,132 shares of the company’s stock worth $431,000 after acquiring an additional 383 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $261,000. Cornerstone Select Advisors LLC purchased a new position in Axsome Therapeutics in the 2nd quarter worth approximately $457,000. Finally, Cynosure Group LLC grew its position in Axsome Therapeutics by 45.1% in the second quarter. Cynosure Group LLC now owns 7,844 shares of the company’s stock valued at $819,000 after acquiring an additional 2,439 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

In related news, CEO Herriot Tabuteau sold 21,775 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $134.49, for a total transaction of $2,928,519.75. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $972,228.21. This represents a 75.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 350,577 shares of company stock valued at $43,803,199 over the last quarter. Company insiders own 22.30% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $151.56 on Friday. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of -29.89 and a beta of 0.50. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $152.94. The company’s 50-day simple moving average is $131.99 and its 200-day simple moving average is $117.46. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The firm had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. Axsome Therapeutics’s quarterly revenue was up 63.2% compared to the same quarter last year. Equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXSM shares. Wells Fargo & Company reduced their target price on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 4th. Bank of America boosted their price objective 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. Guggenheim upped their price objective on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Mizuho lifted their target price on Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $179.88.

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.