Axsome Therapeutics, Inc. $AXSM Shares Purchased by First Turn Management LLC

First Turn Management LLC raised its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 35.6% in the fourth quarter, Holdings Channel reports. The fund owned 206,921 shares of the company’s stock after acquiring an additional 54,307 shares during the period. Axsome Therapeutics accounts for about 4.3% of First Turn Management LLC’s portfolio, making the stock its 6th biggest position. First Turn Management LLC’s holdings in Axsome Therapeutics were worth $37,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kennedy Capital Management LLC grew its stake in Axsome Therapeutics by 0.9% in the fourth quarter. Kennedy Capital Management LLC now owns 39,134 shares of the company’s stock valued at $7,147,000 after acquiring an additional 360 shares during the period. Entropy Technologies LP acquired a new position in Axsome Therapeutics in the fourth quarter valued at about $1,496,000. Barclays PLC grew its stake in Axsome Therapeutics by 6.6% in the fourth quarter. Barclays PLC now owns 76,853 shares of the company’s stock valued at $14,036,000 after acquiring an additional 4,786 shares during the period. FORA Capital LLC acquired a new position in Axsome Therapeutics in the fourth quarter valued at about $1,044,000. Finally, The Manufacturers Life Insurance Company grew its stake in Axsome Therapeutics by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 133,884 shares of the company’s stock valued at $23,659,000 after acquiring an additional 1,167 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $227.94, for a total value of $1,029,604.98. Following the transaction, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at $1,029,604.98. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 113,686 shares of company stock valued at $26,666,006 over the last ninety days. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Up 0.6%

AXSM stock opened at $255.17 on Friday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The stock has a market capitalization of $13.13 billion, a P/E ratio of -68.41 and a beta of 0.61. The business has a 50-day moving average of $210.94 and a 200-day moving average of $181.95. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $257.92.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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). The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research note on Tuesday, May 5th. TD Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Friday, May 1st. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research note on Monday, May 4th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Thursday, June 4th. Finally, Wolfe Research initiated coverage on Axsome Therapeutics in a research note on Monday, February 23rd. They issued an “outperform” rating and a $230.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.79.

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.