1492 Capital Management LLC Makes New $963,000 Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

1492 Capital Management LLC bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,385 shares of the company's stock, valued at approximately $963,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. purchased a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the fourth quarter worth $64,000. KBC Group NV raised its holdings in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after purchasing an additional 385 shares during the last quarter. Xponance Inc. lifted its position in Axsome Therapeutics by 11.6% during the fourth quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after purchasing an additional 277 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in Axsome Therapeutics during the 4th quarter worth about $239,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a research note on Tuesday, February 11th. They issued a "buy" rating and a $176.00 target price on the stock. Mizuho raised their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Bank of America lifted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Wells Fargo & Company raised their price target on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird lifted their price objective on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and an average target price of $169.80.

Axsome Therapeutics Stock Performance

AXSM traded up $0.13 during trading on Wednesday, hitting $103.95. The stock had a trading volume of 236,306 shares, compared to its average volume of 679,593. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The company's 50-day moving average price is $117.03 and its 200 day moving average price is $102.66. The firm has a market capitalization of $5.07 billion, a P/E ratio of -17.35 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.40% of the company's stock.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.