Assenagon Asset Management S.A. Lowers Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Assenagon Asset Management S.A. reduced its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 86.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,483 shares of the company's stock after selling 29,486 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Axsome Therapeutics were worth $403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Axsome Therapeutics by 29.8% in the 3rd quarter. Creative Planning now owns 10,854 shares of the company's stock valued at $975,000 after purchasing an additional 2,489 shares during the last quarter. Handelsbanken Fonder AB grew its position in Axsome Therapeutics by 19.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,300 shares of the company's stock worth $1,105,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC bought a new stake in Axsome Therapeutics during the third quarter worth $1,038,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics during the second quarter valued at about $47,000. Finally, Clearbridge Investments LLC increased its holdings in Axsome Therapeutics by 19.5% during the second quarter. Clearbridge Investments LLC now owns 106,767 shares of the company's stock worth $8,595,000 after buying an additional 17,397 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an "overweight" rating and a $140.00 price target for the company. Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. StockNews.com raised Axsome Therapeutics from a "sell" rating to a "hold" rating in a report on Tuesday, October 1st. HC Wainwright restated a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Axsome Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $124.64.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock traded down $1.59 during midday trading on Monday, hitting $87.25. 363,103 shares of the company's stock were exchanged, compared to its average volume of 616,396. The company has a market cap of $4.14 billion, a P/E ratio of -13.65 and a beta of 1.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.40 and a current ratio of 2.48. The stock has a 50-day moving average price of $90.22 and a two-hundred day moving average price of $82.92. Axsome Therapeutics, Inc. has a 52-week low of $55.02 and a 52-week high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts' consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The business had revenue of $87.17 million for the quarter, compared to the consensus estimate of $84.53 million. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Insider Activity

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

About Axsome Therapeutics

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.