Sofinnova Investments Inc. Trims Holdings in Axsome Therapeutics, Inc. $AXSM

Sofinnova Investments Inc. decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 96.9% during the fourth quarter, Holdings Channel reports. The fund owned 12,266 shares of the company’s stock after selling 381,233 shares during the period. Sofinnova Investments Inc.’s holdings in Axsome Therapeutics were worth $2,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Axsome Therapeutics by 65.4% during the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after acquiring an additional 106 shares during the period. Farther Finance Advisors LLC lifted its position in Axsome Therapeutics by 602.6% in the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after acquiring an additional 235 shares in the last quarter. Optiver Holding B.V. raised its stake in Axsome Therapeutics by 82.3% during the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after buying an additional 130 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Axsome Therapeutics during the 3rd quarter valued at $40,000. Finally, Smartleaf Asset Management LLC raised its stake in Axsome Therapeutics by 87.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 374 shares of the company’s stock valued at $68,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXSM. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research note on Tuesday, May 5th. Needham & Company LLC increased their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. HC Wainwright reissued a “buy” rating on shares of Axsome Therapeutics in a report on Thursday, June 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $272.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $256.79.

Insider Activity

In other news, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 113,686 shares of company stock valued at $26,666,006. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Stock Performance

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

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

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.