28,826 Shares in Axsome Therapeutics, Inc. $AXSM Purchased by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 28,826 shares of the company’s stock, valued at approximately $7,055,740. Axsome Therapeutics accounts for about 0.0% of Seven Fleet Capital Management LP’s portfolio, making the stock its 20th largest holding. Seven Fleet Capital Management LP owned approximately 0.06% of Axsome Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Axsome Therapeutics by 14.9% in the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock worth $85,000 after buying an additional 45 shares during the last quarter. Birchview Capital LP raised its position in Axsome Therapeutics by 1.0% in the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after buying an additional 61 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Axsome Therapeutics by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after acquiring an additional 65 shares during the last quarter. Xponance LLC raised its holdings in Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Axsome Therapeutics by 7.2% during the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after acquiring an additional 79 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AXSM shares. Zacks Research raised shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Wells Fargo & Company lifted their price target on Axsome Therapeutics from $255.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Needham & Company LLC lifted their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Royal Bank Of Canada dropped their price objective on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average price target of $267.60.

Axsome Therapeutics Trading Down 3.5%

Axsome Therapeutics stock traded down $7.25 during mid-day trading on Friday, hitting $199.02. 441,177 shares of the company’s stock were exchanged, compared to its average volume of 757,534. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $10.42 billion, a P/E ratio of -53.07 and a beta of 0.65. Axsome Therapeutics, Inc. has a fifty-two week low of $112.90 and a fifty-two week high of $260.19. The company’s 50 day simple moving average is $228.46 and its 200-day simple moving average is $206.78.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. On average, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Insider Buying and Selling at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Mahony sold 300 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares in the company, valued at $267,810.09. The trade was a 20.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 194,766 shares of company stock valued at $45,284,886. Corporate 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.