Bellevue Group AG Decreases Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Bellevue Group AG lowered its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 28.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 367,181 shares of the company's stock after selling 149,352 shares during the quarter. Bellevue Group AG owned approximately 0.77% of Axsome Therapeutics worth $32,999,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Axsome Therapeutics in the 2nd quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Axsome Therapeutics in the second quarter valued at approximately $47,000. Russell Investments Group Ltd. increased its position 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 worth $63,000 after buying an additional 777 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Axsome Therapeutics by 22.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after acquiring an additional 318 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in Axsome Therapeutics in the third quarter worth approximately $200,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Down 1.4 %

Shares of NASDAQ:AXSM traded down $1.43 during midday trading on Friday, reaching $98.22. 269,480 shares of the company traded hands, compared to its average volume of 591,007. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00. The firm's fifty day moving average price is $91.53 and its two-hundred day moving average price is $85.88. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

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

Wall Street Analysts Forecast Growth

AXSM has been the subject of several research analyst reports. Bank of America raised shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. UBS Group lowered their target price on Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. 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 research note on Friday, October 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Axsome Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $124.93.

Insider Buying and Selling

In other 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 sale, the director now owns 10,002 shares of the company's stock, 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 through this link. 22.40% of the stock is currently owned by corporate insiders.

About Axsome Therapeutics

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.