Hsbc Holdings PLC Invests $13.67 Million in Axsome Therapeutics, Inc. $AXSM

Hsbc Holdings PLC acquired a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 55,800 shares of the company’s stock, valued at approximately $13,667,000. Hsbc Holdings PLC owned approximately 0.11% of Axsome Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Axsome Therapeutics in the second quarter worth about $759,695,000. Wellington Management Group LLP boosted its holdings in shares of Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after buying an additional 609,516 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of 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 position in shares of Axsome Therapeutics in the 4th quarter worth approximately $90,490,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $275,763,000 after acquiring an additional 472,422 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AXSM shares. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Needham & Company LLC upped their price target on Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. TD Cowen boosted their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley increased their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.60.

Insider Transactions at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the sale, the director directly owned 58,653 shares of the company’s stock, valued at $14,439,195.54. This trade represents a 0.49% decrease in their position. 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. Over the last 90 days, insiders sold 194,766 shares of company stock valued at $45,284,886. 20.60% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $206.27 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. The stock’s fifty day moving average price is $228.46 and its 200 day moving average price is $206.78. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The company has a market cap of $10.80 billion, a price-to-earnings ratio of -55.01 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.8 earnings per share 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.