Axsome Therapeutics, Inc. (NASDAQ:AXSM) is RTW Investments LP's 2nd Largest Position

RTW Investments LP lowered its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,189,557 shares of the company's stock after selling 444,774 shares during the quarter. Axsome Therapeutics comprises 5.4% of RTW Investments LP's holdings, making the stock its 2nd largest holding. RTW Investments LP owned 8.65% of Axsome Therapeutics worth $376,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PDT Partners LLC acquired a new position in shares of Axsome Therapeutics during the third quarter worth $1,052,000. XTX Topco Ltd grew its stake in Axsome Therapeutics by 177.9% during the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock worth $902,000 after buying an additional 7,173 shares during the last quarter. Tri Locum Partners LP increased its position in Axsome Therapeutics by 198.4% during the 2nd quarter. Tri Locum Partners LP now owns 306,513 shares of the company's stock valued at $24,674,000 after buying an additional 203,802 shares in the last quarter. Sofinnova Investments Inc. purchased a new position in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $24,971,000. Finally, Point72 Europe London LLP purchased a new position in shares of Axsome Therapeutics in the second quarter worth $2,475,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company's stock.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock traded down $1.19 during trading hours on Thursday, reaching $98.35. The stock had a trading volume of 262,995 shares, compared to its average volume of 614,575. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $4.77 billion, a PE ratio of -15.06 and a beta of 1.18. The stock's 50 day moving average is $92.23 and its 200 day moving average is $86.45.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the prior year, the business posted ($1.32) earnings per share. Equities analysts expect that Axsome Therapeutics, Inc. will post -4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. HC Wainwright reissued a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a report on Monday, November 25th. Royal Bank of Canada lifted their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Needham & Company LLC reiterated a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $124.93.

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.