Kennedy Capital Management LLC Raises Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Kennedy Capital Management LLC boosted its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 95.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,941 shares of the company's stock after buying an additional 18,510 shares during the period. Kennedy Capital Management LLC owned 0.08% of Axsome Therapeutics worth $3,210,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pitcairn Co. raised its stake in Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company's stock valued at $386,000 after purchasing an additional 148 shares during the last quarter. Meridian Wealth Management LLC raised its position in shares of Axsome Therapeutics by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company's stock valued at $1,791,000 after buying an additional 150 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Axsome Therapeutics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company's stock worth $766,000 after buying an additional 164 shares in the last quarter. Intrust Bank NA boosted its position in Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock worth $239,000 after acquiring an additional 183 shares during the last quarter. Finally, Xponance Inc. grew its stake in Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm's 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 sale, the chief financial officer now directly owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.40% of the company's stock.

Wall Street Analyst Weigh In

AXSM has been the topic of several recent research reports. Royal Bank of Canada boosted their target price on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. William Blair reissued an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Truist Financial raised their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Cantor Fitzgerald reissued an "overweight" rating and set a $153.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price objective for the company. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $169.80.

Axsome Therapeutics Stock Down 0.0 %

AXSM traded down $0.01 during trading hours on Friday, hitting $104.46. 486,786 shares of the company's stock were exchanged, compared to its average volume of 681,903. The firm has a market cap of $5.09 billion, a P/E ratio of -17.44 and a beta of 0.88. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm has a 50 day moving average of $118.71 and a 200 day moving average of $102.30.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. The firm had revenue of $118.77 million during 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 predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

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.