Axsome Therapeutics, Inc. $AXSM Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 598,091 shares of the company’s stock after selling 19,942 shares during the quarter. Bank of America Corp DE’s holdings in Axsome Therapeutics were worth $101,089,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXSM. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares during the last quarter. First Trust Advisors LP lifted its stake in Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after buying an additional 534,066 shares in the last quarter. Norges Bank purchased a new stake in Axsome Therapeutics in the 4th quarter valued at approximately $90,490,000. Price T Rowe Associates Inc. MD grew its holdings in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after acquiring an additional 419,008 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AXSM. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. TD Cowen raised their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $265.55.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 33,000 shares of the 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 transaction, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,742,261.29. The trade was a 87.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by company insiders.

Axsome Therapeutics Trading Up 1.2%

NASDAQ AXSM opened at $212.74 on Friday. Axsome Therapeutics, Inc. has a 12 month low of $102.67 and a 12 month high of $260.19. The company has a 50-day moving average of $236.95 and a 200-day moving average of $203.96. 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 $10.95 billion, a P/E ratio of -57.03 and a beta of 0.65.

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.