Values First Advisors Inc. Takes Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Values First Advisors Inc. purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,322 shares of the company's stock, valued at approximately $568,000.

A number of other hedge funds also recently made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics during the 2nd quarter valued at $47,000. Russell Investments Group Ltd. boosted its position in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company's stock worth $63,000 after purchasing an additional 777 shares during the period. Finally, Covestor Ltd increased its holdings in Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company's stock valued at $88,000 after purchasing an additional 1,095 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded up $1.04 on Friday, reaching $89.87. 202,049 shares of the company's stock were exchanged, compared to its average volume of 624,917. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The business's 50-day moving average is $90.02 and its two-hundred day moving average is $81.94. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -13.92 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.06. The business had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. As a group, equities research analysts forecast that Axsome Therapeutics, Inc. will post -4.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AXSM shares. Bank of America upgraded Axsome Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $95.00 to $106.00 in a research note on Tuesday, August 6th. StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, October 1st. Royal Bank of Canada increased their price objective on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. UBS Group decreased their target price on shares of Axsome Therapeutics from $107.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $124.64.

Insider Activity

In related news, COO Mark L. Jacobson sold 47,739 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares of the company's stock, valued at $487,275.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business's 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 sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company's stock.

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.