PDT Partners LLC Buys New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

PDT Partners LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,701 shares of the company's stock, valued at approximately $1,052,000.

Several other hedge funds have also recently added to or reduced their stakes in AXSM. Arizona State Retirement System raised its stake in Axsome Therapeutics by 2.1% during the second quarter. Arizona State Retirement System now owns 8,630 shares of the company's stock worth $695,000 after acquiring an additional 177 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company's stock worth $156,000 after purchasing an additional 318 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter worth about $27,000. WCM Investment Management LLC lifted its holdings in Axsome Therapeutics by 0.3% during the 3rd quarter. WCM Investment Management LLC now owns 113,692 shares of the company's stock valued at $10,191,000 after purchasing an additional 347 shares during the last quarter. Finally, US Bancorp DE boosted its position in Axsome Therapeutics by 0.3% in the third quarter. US Bancorp DE now owns 133,126 shares of the company's stock valued at $11,964,000 after buying an additional 421 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Axsome Therapeutics Trading Up 0.9 %

AXSM traded up $0.86 during trading on Monday, reaching $99.08. 449,098 shares of the company's stock were exchanged, compared to its average volume of 617,052. The company's fifty day moving average price is $91.68 and its 200-day moving average price is $86.11. The firm has a market capitalization of $4.80 billion, a PE ratio of -15.17 and a beta of 1.26. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping analysts' consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to analysts' expectations of $98.71 million. During the same period in the previous year, the firm earned ($1.32) earnings per share. As a group, equities analysts forecast that Axsome Therapeutics, Inc. will post -4.58 EPS for the current year.

Analysts Set New Price Targets

AXSM has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $130.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 12th. HC Wainwright reiterated a "buy" rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday, November 25th. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Bank of America upgraded Axsome Therapeutics from a "neutral" rating to a "buy" rating and raised their target price for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $107.00 price target on shares of Axsome Therapeutics in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.93.

Insider Activity

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of Axsome Therapeutics stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

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.