Connor Clark & Lunn Investment Management Ltd. Takes $6.22 Million Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,497 shares of the company's stock, valued at approximately $6,219,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Axsome Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock valued at $19,062,000 after purchasing an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Axsome Therapeutics in the fourth quarter worth about $2,599,000. PDT Partners LLC bought a new position in shares of Axsome Therapeutics in the third quarter worth approximately $1,052,000. Pallas Capital Advisors LLC purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $2,237,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Axsome Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company's stock valued at $27,755,000 after buying an additional 5,438 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Performance

AXSM traded up $1.14 during trading on Wednesday, hitting $125.90. The company's stock had a trading volume of 371,704 shares, compared to its average volume of 644,005. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $139.13. The firm has a market cap of $6.14 billion, a PE ratio of -21.02 and a beta of 0.99. The business's 50 day simple moving average is $113.88 and its 200-day simple moving average is $99.47.

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Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share 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 for the quarter, compared to the consensus estimate of $117.83 million. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the transaction, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on AXSM. Cantor Fitzgerald reiterated an "overweight" rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Mizuho increased their price target on shares of Axsome Therapeutics from $195.00 to $212.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and set a $200.00 price target on shares of Axsome Therapeutics in a report on Thursday, March 6th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $167.36.

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.