Goodwin Investment Advisory Invests $1.04 Million in Axsome Therapeutics, Inc. $AXSM

Goodwin Investment Advisory bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,241 shares of the company’s stock, valued at approximately $1,038,000. Axsome Therapeutics makes up approximately 2.1% of Goodwin Investment Advisory’s holdings, making the stock its 9th biggest holding.

A number of other institutional investors have also made changes to their positions in AXSM. Kemnay Advisory Services Inc. bought a new stake in Axsome Therapeutics during the 4th quarter worth about $31,000. Hollencrest Capital Management lifted its position in shares of Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 160 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $37,000. ABS Investment Management LLC bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $171,339,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $66,000. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Price Performance

Shares of AXSM stock opened at $199.02 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $112.90 and a 52-week high of $260.19. The stock has a market cap of $10.42 billion, a PE ratio of -53.07 and a beta of 0.65. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The firm’s 50 day moving average price is $227.43 and its two-hundred day moving average price is $206.72.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. As a group, analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on AXSM. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research note on Tuesday, May 5th. Finally, BMO Capital Markets initiated coverage on Axsome Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $310.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.60.

Insiders Place Their Bets

In related news, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This represents a 43.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 194,766 shares of company stock worth $45,284,886 over the last three months. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company Profile

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.