8,800 Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,800 shares of the company's stock, valued at approximately $745,000.

Several other hedge funds and other institutional investors have also modified their holdings of AXSM. Assetmark Inc. bought a new position in Axsome Therapeutics in the fourth quarter worth about $52,000. R Squared Ltd bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $64,000. KBC Group NV boosted its position in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after purchasing an additional 385 shares during the period. Xponance Inc. boosted its position in Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company's stock valued at $225,000 after purchasing an additional 277 shares during the period. Finally, Corient Private Wealth LLC bought a new position in Axsome Therapeutics during the 4th quarter worth $239,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM traded down $9.03 during mid-day trading on Friday, reaching $98.86. The company had a trading volume of 990,570 shares, compared to its average volume of 664,839. Axsome Therapeutics, Inc. has a 1-year low of $64.11 and a 1-year high of $139.13. The stock has a market cap of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The company has a 50-day moving average price of $120.62 and a two-hundred day moving average price of $101.82.

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Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In related news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXSM. HC Wainwright reissued a "buy" rating and set a $200.00 price target on shares of Axsome Therapeutics in a report on Thursday. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Morgan Stanley raised their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Robert W. Baird boosted their price objective on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Truist Financial raised their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $167.64.

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.