Axsome Therapeutics, Inc. $AXSM is Occam Crest Management LP’s 9th Largest Position

Occam Crest Management LP raised its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Axsome Therapeutics accounts for about 4.4% of Occam Crest Management LP’s investment portfolio, making the stock its 9th largest position. Occam Crest Management LP’s holdings in Axsome Therapeutics were worth $6,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Axsome Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Axsome Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after acquiring an additional 12,549 shares in the last quarter. Invesco Ltd. raised its stake in shares of Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after acquiring an additional 419,008 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Axsome Therapeutics by 5.8% in the 2nd quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after acquiring an additional 52,483 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $253.40 on Tuesday. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $257.92. The firm has a market capitalization of $13.04 billion, a PE ratio of -67.94 and a beta of 0.61. The business’s 50 day moving average is $212.64 and its 200-day moving average is $182.89. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics’s revenue was up 57.4% on a year-over-year basis. Sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AXSM shares. Piper Sandler reissued an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday. TD Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.79.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the sale, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. The trade was a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 113,686 shares of company stock worth $26,666,006 in the last three months. Company insiders own 20.60% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.