Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Raised by Torray Investment Partners LLC

Torray Investment Partners LLC increased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) by 45.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,174 shares of the company's stock after purchasing an additional 5,351 shares during the period. Torray Investment Partners LLC's holdings in Axsome Therapeutics were worth $1,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Axsome Therapeutics by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company's stock valued at $19,062,000 after buying an additional 27,534 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth about $2,599,000. PDT Partners LLC bought a new stake in Axsome Therapeutics in the 3rd quarter valued at about $1,052,000. Pallas Capital Advisors LLC bought a new stake in Axsome Therapeutics in the 4th quarter valued at about $2,237,000. Finally, Captrust Financial Advisors acquired a new position in Axsome Therapeutics during the 3rd quarter valued at about $514,000. Institutional investors and hedge funds own 81.49% of the company's stock.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company's stock, valued at approximately $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.40% of the stock is currently owned by company insiders.

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Axsome Therapeutics Price Performance

NASDAQ:AXSM traded down $2.24 during trading hours on Friday, reaching $122.17. 509,828 shares of the company's stock were exchanged, compared to its average volume of 1,028,153. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.96 billion, a P/E ratio of -20.40 and a beta of 0.99. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $139.13. The business's 50-day simple moving average is $108.07 and its two-hundred day simple moving average is $97.47.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

AXSM has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $153.00 target price on shares of Axsome Therapeutics in a research note on Monday. Wells Fargo & Company increased their price target on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Axsome Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $176.00 price target on the stock. Finally, Bank of America upped their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $167.36.

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.