Eventide Asset Management LLC Has $74.40 Million Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Eventide Asset Management LLC lowered its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 11.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 827,887 shares of the company's stock after selling 110,827 shares during the quarter. Axsome Therapeutics accounts for about 1.3% of Eventide Asset Management LLC's investment portfolio, making the stock its 22nd largest position. Eventide Asset Management LLC owned about 1.74% of Axsome Therapeutics worth $74,402,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its position in Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock worth $695,000 after buying an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 purchasing an additional 318 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics during the second quarter valued at approximately $27,000. WCM Investment Management LLC raised its stake in shares of Axsome Therapeutics by 0.3% in the third quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock valued at $10,191,000 after purchasing an additional 347 shares in the last quarter. Finally, US Bancorp DE lifted its position in Axsome Therapeutics by 0.3% in the third quarter. US Bancorp DE now owns 133,126 shares of the company's stock worth $11,964,000 after purchasing an additional 421 shares during the period. 81.49% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction dated 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 transaction, the director now directly owns 10,002 shares of the company's stock, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AXSM. Needham & Company LLC reissued a "buy" rating and issued a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. UBS Group lowered their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. Wells Fargo & Company initiated coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price objective on the stock. Finally, Royal Bank of Canada increased 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. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM traded down $1.43 during midday trading on Friday, reaching $98.22. The company's stock had a trading volume of 269,480 shares, compared to its average volume of 617,780. The business's fifty day simple moving average is $91.53 and its 200-day simple moving average is $85.88. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The company has a market capitalization of $4.76 billion, a P/E ratio of -15.04 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued 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. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same period last year, the business posted ($1.32) EPS. As a group, equities research analysts expect that Axsome Therapeutics, Inc. will post -4.66 EPS for the current fiscal year.

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.