New York State Common Retirement Fund raised its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 64.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,491 shares of the company's stock after buying an additional 8,843 shares during the period. New York State Common Retirement Fund's holdings in Axsome Therapeutics were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock worth $19,062,000 after buying an additional 27,534 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Axsome Therapeutics in the fourth quarter worth about $2,599,000. PDT Partners LLC bought a new position in Axsome Therapeutics during the 3rd quarter worth about $1,052,000. Pallas Capital Advisors LLC purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $2,237,000. Finally, Captrust Financial Advisors bought a new stake in shares of Axsome Therapeutics in the 3rd quarter valued at about $514,000. 81.49% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
AXSM has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Axsome Therapeutics from $140.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Mizuho increased their target price on Axsome Therapeutics from $195.00 to $212.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. HC Wainwright reissued a "buy" rating and issued a $200.00 price target on shares of Axsome Therapeutics in a research report on Thursday. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $143.00 to $192.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, William Blair reiterated an "outperform" rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $167.36.
Read Our Latest Stock Report on Axsome Therapeutics
Insider Buying and Selling at Axsome Therapeutics
In other news, CFO Nick Pizzie sold 3,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.40% of the company's stock.
Axsome Therapeutics Stock Performance
AXSM stock traded down $0.69 during trading on Thursday, reaching $124.41. The company had a trading volume of 245,348 shares, compared to its average volume of 1,032,575. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -20.77 and a beta of 0.99. The firm has a 50-day simple moving average of $107.34 and a 200-day simple moving average of $97.28.
Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. The firm had revenue of $118.77 million for 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%. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.
About Axsome Therapeutics
(
Free Report)
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.
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