Lindbrook Capital LLC Sells 5,619 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Lindbrook Capital LLC lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,707 shares of the company's stock after selling 5,619 shares during the period. Lindbrook Capital LLC owned approximately 0.14% of Axsome Therapeutics worth $5,815,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in Axsome Therapeutics during the second quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new position in shares of Axsome Therapeutics in the 1st quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axsome Therapeutics during the second quarter worth $47,000. Russell Investments Group Ltd. lifted its holdings in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock valued at $63,000 after purchasing an additional 777 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Axsome Therapeutics by 54,750.0% during the first quarter. Covestor Ltd now owns 1,097 shares of the company's stock valued at $88,000 after purchasing an additional 1,095 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America upgraded Axsome Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $95.00 to $106.00 in a report on Tuesday, August 6th. HC Wainwright restated a "buy" rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Needham & Company LLC reiterated a "buy" rating and set a $130.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Wells Fargo & Company began coverage on Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.64.

Axsome Therapeutics Stock Down 0.7 %

Shares of NASDAQ AXSM traded down $0.63 during trading hours on Friday, hitting $90.07. The stock had a trading volume of 635,290 shares, compared to its average volume of 364,163. The company has a market capitalization of $4.28 billion, a P/E ratio of -13.84 and a beta of 1.26. The firm's 50-day moving average price is $90.31 and its two-hundred day moving average price is $83.53. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.40% of the stock is owned by insiders.

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.