Lindbrook Capital LLC Lowers Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Lindbrook Capital LLC reduced its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,144 shares of the company's stock after selling 2,563 shares during the period. Lindbrook Capital LLC owned approximately 0.13% of Axsome Therapeutics worth $5,258,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AXSM. Assetmark Inc. bought a new stake in Axsome Therapeutics during the 4th quarter worth approximately $52,000. R Squared Ltd bought a new position in shares of Axsome Therapeutics in the fourth quarter worth $64,000. KBC Group NV raised its position in shares of Axsome Therapeutics by 40.5% in the fourth quarter. KBC Group NV now owns 1,336 shares of the company's stock worth $113,000 after buying an additional 385 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Axsome Therapeutics in the third quarter worth $200,000. Finally, Whalen Wealth Management Inc. bought a new stake in Axsome Therapeutics during the third quarter valued at $236,000. 81.49% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.40% of the company's stock.

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Axsome Therapeutics Trading Down 2.8 %

Axsome Therapeutics stock traded down $3.39 during trading hours on Monday, reaching $118.78. The stock had a trading volume of 693,408 shares, compared to its average volume of 656,269. The stock has a market cap of $5.79 billion, a PE ratio of -19.83 and a beta of 1.00. The company has a fifty day simple moving average of $108.78 and a 200-day simple moving average of $97.83. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley raised their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a "buy" rating and issued a $153.00 target price on shares of Axsome Therapeutics in a research report on Monday, March 3rd. Finally, StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.36.

Axsome Therapeutics 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.