Axsome Therapeutics, Inc. (NASDAQ:AXSM) Position Trimmed by abrdn plc

abrdn plc decreased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 72.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,048 shares of the company's stock after selling 28,627 shares during the quarter. abrdn plc's holdings in Axsome Therapeutics were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AXSM. Natixis boosted its position in shares of Axsome Therapeutics by 13.6% during the 1st quarter. Natixis now owns 1,235 shares of the company's stock worth $99,000 after acquiring an additional 148 shares in the last quarter. Arizona State Retirement System boosted its holdings in Axsome Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock valued at $695,000 after purchasing an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock valued at $156,000 after purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics during the second quarter worth approximately $27,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Axsome Therapeutics during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 81.49% of the company's stock.

Insiders Place Their Bets

In related news, COO Mark L. Jacobson sold 47,739 shares of the firm'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 value of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares of the company's stock, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Mark E. Saad sold 11,016 shares of the firm's 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 directly owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 47,739 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 5,783 shares of the company's stock, valued at $487,275.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 22.40% of the stock is owned by corporate insiders.

Axsome Therapeutics Stock Up 2.0 %

AXSM traded up $1.77 during trading on Tuesday, hitting $89.02. The company had a trading volume of 174,292 shares, compared to its average volume of 614,330. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40. The company has a market cap of $4.23 billion, a PE ratio of -13.63 and a beta of 1.26. The business has a 50-day moving average of $90.19 and a 200-day moving average of $83.07.

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

Analysts Set New Price Targets

Several brokerages recently commented on AXSM. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Bank of America raised Axsome Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Thursday, September 5th. StockNews.com upgraded shares of Axsome Therapeutics from a "sell" rating to a "hold" rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics has an average rating of "Moderate Buy" and an average target price of $124.64.

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.