First Turn Management LLC Sells 81,952 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

First Turn Management LLC trimmed its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,294 shares of the company's stock after selling 81,952 shares during the period. Axsome Therapeutics comprises about 3.6% of First Turn Management LLC's investment portfolio, making the stock its 6th largest position. First Turn Management LLC owned 0.54% of Axsome Therapeutics worth $22,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Axsome Therapeutics by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,740,278 shares of the company's stock worth $298,474,000 after buying an additional 43,512 shares during the last quarter. Bellevue Group AG increased its holdings in Axsome Therapeutics by 7.9% during the 1st quarter. Bellevue Group AG now owns 685,476 shares of the company's stock valued at $54,701,000 after purchasing an additional 50,104 shares in the last quarter. XTX Topco Ltd raised its position in Axsome Therapeutics by 177.9% in the 2nd quarter. XTX Topco Ltd now owns 11,205 shares of the company's stock valued at $902,000 after purchasing an additional 7,173 shares during the last quarter. Tri Locum Partners LP grew its holdings in shares of Axsome Therapeutics by 198.4% during the second quarter. Tri Locum Partners LP now owns 306,513 shares of the company's stock worth $24,674,000 after purchasing an additional 203,802 shares during the last quarter. Finally, Sofinnova Investments Inc. acquired a new stake in Axsome Therapeutics in the 2nd quarter valued at about $24,971,000. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird upped their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an "overweight" rating and set a $107.00 target price on shares of Axsome Therapeutics in a research report on Monday, September 16th. Wells Fargo & Company assumed coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an "overweight" rating and a $140.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Finally, HC Wainwright restated a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $124.93.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm's stock in a transaction that occurred on 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 directly owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Up 3.3 %

Shares of Axsome Therapeutics stock traded up $3.01 during trading hours on Tuesday, reaching $95.46. 403,093 shares of the company's stock were exchanged, compared to its average volume of 621,048. Axsome Therapeutics, Inc. has a fifty-two week low of $58.61 and a fifty-two week high of $105.00. The stock has a market cap of $4.63 billion, a P/E ratio of -14.62 and a beta of 1.26. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The company has a 50 day moving average of $90.63 and a two-hundred day moving average of $84.54.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.38) by $0.04. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted ($1.32) earnings per share. On average, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -4.75 EPS for the current fiscal year.

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.