Axsome Therapeutics, Inc. (NASDAQ:AXSM) Position Raised by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 3,176.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,661 shares of the company's stock after purchasing an additional 19,061 shares during the quarter. ADAR1 Capital Management LLC's holdings in Axsome Therapeutics were worth $1,664,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AXSM. Assetmark Inc. acquired a new position in Axsome Therapeutics during the fourth quarter valued at approximately $52,000. R Squared Ltd acquired a new position in shares of Axsome Therapeutics during the 4th quarter valued at $64,000. KBC Group NV boosted its position in Axsome Therapeutics by 40.5% during the 4th 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 period. Xponance Inc. increased its holdings in Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after purchasing an additional 277 shares in the last quarter. Finally, Intrust Bank NA raised its position in Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company's stock valued at $239,000 after purchasing an additional 183 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company's stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is owned by insiders.

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Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded up $2.41 during midday trading on Friday, reaching $98.06. 867,734 shares of the company traded hands, compared to its average volume of 678,891. 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 current ratio of 2.11 and a quick ratio of 2.04. The company has a fifty day moving average price of $119.51 and a 200 day moving average price of $101.99. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -16.37 and a beta of 0.88.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly 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. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. On average, analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group initiated coverage on Axsome Therapeutics in a research report on Monday, April 7th. They set a "buy" rating and a $200.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, February 19th. Wells Fargo & Company lifted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley increased 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. Finally, Bank of America upped their target price on Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $169.80.

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.