Axsome Therapeutics, Inc. $AXSM Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 15.5% during the first quarter, HoldingsChannel reports. The firm owned 213,921 shares of the company’s stock after selling 39,200 shares during the period. Orbimed Advisors LLC’s holdings in Axsome Therapeutics were worth $36,157,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP boosted its stake in shares of Axsome Therapeutics by 24.2% during the first quarter. Entropy Technologies LP now owns 10,171 shares of the company’s stock worth $1,719,000 after buying an additional 1,979 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Axsome Therapeutics in the 1st quarter valued at about $16,488,000. Caxton Associates LLP purchased a new stake in Axsome Therapeutics during the 1st quarter valued at approximately $729,000. Inceptionr LLC raised its stake in Axsome Therapeutics by 3.2% during the 1st quarter. Inceptionr LLC now owns 4,060 shares of the company’s stock valued at $686,000 after acquiring an additional 126 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Axsome Therapeutics by 47.2% during the 1st quarter. Sei Investments Co. now owns 70,064 shares of the company’s stock worth $11,842,000 after acquiring an additional 22,464 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the completion of the sale, the director owned 30,389 shares in the company, valued at $7,566,861. This trade represents a 2.07% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Herriot Tabuteau sold 49,666 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,736,767.25. The trade was a 87.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 155,852 shares of company stock worth $37,230,112. 20.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Needham & Company LLC upped their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada increased their price target on Axsome Therapeutics from $302.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Two research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.48.

Axsome Therapeutics Price Performance

AXSM opened at $241.00 on Monday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19. The stock has a market capitalization of $12.40 billion, a P/E ratio of -64.61 and a beta of 0.60. The business has a 50 day simple moving average of $239.25 and a 200-day simple moving average of $200.80.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The business 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 revenue was up 57.4% compared to the same quarter last year. On average, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal 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.