HighVista Strategies LLC Sells 20,650 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

HighVista Strategies LLC cut its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 33.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,542 shares of the company's stock after selling 20,650 shares during the period. Axsome Therapeutics accounts for about 1.3% of HighVista Strategies LLC's investment portfolio, making the stock its 17th largest position. HighVista Strategies LLC owned approximately 0.09% of Axsome Therapeutics worth $3,733,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company's stock valued at $97,786,000 after buying an additional 185,951 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Axsome Therapeutics by 1.4% during the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company's stock valued at $59,555,000 after acquiring an additional 10,401 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in Axsome Therapeutics by 5.4% in the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company's stock worth $44,200,000 after purchasing an additional 28,316 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Axsome Therapeutics by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company's stock valued at $28,992,000 after buying an additional 12,778 shares during the last quarter. Finally, Sofinnova Investments Inc. bought a new stake in shares of Axsome Therapeutics in the second quarter valued at about $24,971,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AXSM shares. StockNews.com upgraded Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Wednesday, November 20th. HC Wainwright restated a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a research report on Monday, November 25th. Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Bank of America upgraded shares of Axsome Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reissued a "buy" rating and set a $130.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $124.93.

Axsome Therapeutics Stock Up 1.4 %

NASDAQ:AXSM traded up $1.41 during trading hours on Tuesday, reaching $100.49. 542,961 shares of the stock were exchanged, compared to its average volume of 616,734. 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, Inc. has a twelve month low of $64.11 and a twelve month high of $105.00. The stock has a market cap of $4.87 billion, a PE ratio of -15.46 and a beta of 1.18. The firm has a 50 day moving average of $91.68 and a 200 day moving average of $86.11.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share 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 during the quarter, compared to analysts' expectations of $98.71 million. During the same period last year, the business earned ($1.32) earnings per share. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -4.58 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction 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 in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is owned by company insiders.

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.