Hsbc Holdings PLC Invests $11.59 Million in Axsome Therapeutics, Inc. $AXSM

Hsbc Holdings PLC bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, HoldingsChannel.com reports. The fund bought 68,453 shares of the company’s stock, valued at approximately $11,589,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Birchview Capital LP lifted its stake in Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after acquiring an additional 61 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Axsome Therapeutics by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock valued at $351,000 after purchasing an additional 65 shares in the last quarter. Xponance LLC lifted its stake in shares of Axsome Therapeutics by 2.4% in the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after purchasing an additional 76 shares during the last quarter. Allworth Financial LP boosted its holdings in Axsome Therapeutics by 6.6% in the third quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after purchasing an additional 89 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Axsome Therapeutics by 4.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,190 shares of the company’s stock worth $400,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXSM. Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a report on Tuesday, May 5th. Zacks Research cut shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a report on Thursday, June 11th. Piper Sandler restated an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, BMO Capital Markets initiated coverage on Axsome Therapeutics in a research report on Monday. They issued an “outperform” rating and a $310.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $261.48.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total value of $160,107.00. Following the completion of the transaction, the director directly owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. This trade represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 155,852 shares of company stock worth $37,230,112. 20.60% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $239.62 on Thursday. 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 company has a market cap of $12.33 billion, a PE ratio of -64.24 and a beta of 0.60. The firm has a fifty day moving average price of $238.79 and a two-hundred day moving average price of $199.87. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. Analysts expect that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

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.