Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock Holdings Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 6,369.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,613 shares of the company’s stock after acquiring an additional 101,027 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.24% of Axsome Therapeutics worth $7,374,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its stake in Axsome Therapeutics by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 589 shares of the company’s stock valued at $36,000 after acquiring an additional 148 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Axsome Therapeutics by 1.7% in the 1st quarter. AQR Capital Management LLC now owns 8,825 shares of the company’s stock worth $544,000 after buying an additional 148 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Axsome Therapeutics by 5.1% in the 1st quarter. Victory Capital Management Inc. now owns 3,844 shares of the company’s stock worth $237,000 after buying an additional 185 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Axsome Therapeutics by 1.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,627 shares of the company’s stock worth $560,000 after buying an additional 245 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Axsome Therapeutics by 0.9% in the 4th quarter. Legal & General Group Plc now owns 27,011 shares of the company’s stock worth $2,083,000 after buying an additional 250 shares in the last quarter. Institutional investors own 76.60% of the company’s stock.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 11,016 shares of Axsome Therapeutics stock in a transaction on Friday, September 15th. The stock was sold at an average price of $75.19, for a total transaction of $828,293.04. Following the completion of the sale, the director now owns 25,097 shares of the company’s stock, valued at $1,887,043.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 24.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AXSM shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $108.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, August 22nd. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a report on Monday, August 7th. Piper Sandler upgraded Axsome Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $90.00 in a report on Monday, August 7th. StockNews.com started coverage on Axsome Therapeutics in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Mizuho restated a “buy” rating and issued a $100.00 target price on shares of Axsome Therapeutics in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.22.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $64.62 on Thursday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -15.10 and a beta of 1.91. Axsome Therapeutics, Inc. has a 1-year low of $47.51 and a 1-year high of $91.29. The company has a current ratio of 4.52, a quick ratio of 4.44 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $71.59 and its 200-day simple moving average is $73.66.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 7th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.24. The firm had revenue of $46.70 million during the quarter, compared to analysts’ expectations of $40.19 million. Axsome Therapeutics had a negative return on equity of 92.39% and a negative net margin of 101.07%. On average, sell-side analysts predict that Axsome Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

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.