9,466 Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Acquired by Fred Alger Management LLC

Fred Alger Management LLC acquired a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,466 shares of the company's stock, valued at approximately $851,000.

Several other large investors have also bought and sold shares of the company. Arizona State Retirement System boosted its position in shares of Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock valued at $695,000 after buying an additional 177 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $156,000 after acquiring an additional 318 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $27,000. WCM Investment Management LLC boosted its holdings in shares of Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock valued at $10,191,000 after acquiring an additional 347 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of 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 acquiring an additional 421 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company's stock, valued at $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 22.40% of the company's stock.

Analyst Ratings Changes

AXSM has been the topic of a number of research analyst reports. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Robert W. Baird raised their price target on Axsome Therapeutics from $112.00 to $116.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. UBS Group cut their price objective on Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. HC Wainwright reissued a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Monday, November 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $130.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $124.93.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM traded up $0.86 during trading on Monday, hitting $99.08. 449,098 shares of the company's stock were exchanged, compared to its average volume of 617,052. The business's 50-day simple moving average is $91.68 and its 200 day simple moving average is $86.11. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -15.17 and a beta of 1.26. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00. 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 released its quarterly earnings data 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 firm had revenue of $104.76 million for the quarter, compared to analysts' expectations of $98.71 million. During the same quarter last year, the business posted ($1.32) earnings per share. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -4.58 EPS for the current year.

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.