Vise Technologies Inc. Buys Shares of 2,473 Axsome Therapeutics, Inc. $AXSM

Vise Technologies Inc. purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,473 shares of the company’s stock, valued at approximately $605,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Axsome Therapeutics by 14.9% during the second quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after buying an additional 45 shares during the period. Birchview Capital LP lifted its holdings in Axsome Therapeutics by 1.0% during the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after buying an additional 61 shares during the period. PNC Financial Services Group Inc. boosted its position in 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 acquiring an additional 65 shares in the last quarter. Xponance LLC boosted its position in Axsome Therapeutics by 2.4% during the 4th quarter. Xponance LLC now owns 3,265 shares of the company’s stock valued at $596,000 after acquiring an additional 76 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Axsome Therapeutics by 7.2% in the 1st quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 of the company’s stock, valued at $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Jeffs sold 286 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares of the company’s stock, valued at $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 200,766 shares of company stock valued at $46,685,646. 20.60% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $205.40 on Tuesday. Axsome Therapeutics, Inc. has a 12-month low of $112.90 and a 12-month high of $260.19. The business’s fifty day simple moving average is $231.17 and its 200-day simple moving average is $206.29. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The company has a market cap of $10.76 billion, a PE ratio of -54.77 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The business had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Analysts expect that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho boosted their price target on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. TD Cowen lifted their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. BMO Capital Markets initiated coverage on shares of Axsome Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $310.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a research report on Monday, May 4th. Finally, Zacks Research raised shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $267.60.

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.