SummitTX Capital L.P. Purchases Shares of 15,304 Axsome Therapeutics, Inc. $AXSM

SummitTX Capital L.P. purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 15,304 shares of the company’s stock, valued at approximately $2,587,000.

A number of other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares in the last quarter. Wellington Management Group LLP boosted its stake in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Invesco Ltd. boosted its stake in Axsome Therapeutics by 28.6% in the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares in the last quarter. Geode Capital Management LLC boosted its stake in Axsome Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after purchasing an additional 12,549 shares in the last quarter. Finally, State Street Corp grew its position in Axsome Therapeutics by 5.8% during the 2nd quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after purchasing an additional 52,483 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 1.7%

Shares of Axsome Therapeutics stock opened at $234.20 on Wednesday. The stock has a market cap of $12.05 billion, a PE ratio of -62.79 and a beta of 0.60. The firm has a fifty day moving average price of $239.62 and a 200 day moving average price of $201.72. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $260.19. 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 (NASDAQ:AXSM) last announced its quarterly earnings results 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 company 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% on a year-over-year basis. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AXSM shares. TD Cowen upped their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Wells Fargo & Company upped their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Zacks Research lowered Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $261.48.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan Mahony sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director directly owned 1,129 shares in the company, valued at $267,810.09. The trade was a 20.99% decrease in their position. 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. Insiders sold 155,852 shares of company stock valued at $37,230,112 over the last 90 days. Company insiders own 20.60% of the company’s stock.

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.