Bank of New York Mellon Corp Boosts Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Bank of New York Mellon Corp lifted its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 28.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,086 shares of the company’s stock after purchasing an additional 35,970 shares during the quarter. Bank of New York Mellon Corp owned 0.37% of Axsome Therapeutics worth $11,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RTW Investments LP lifted its holdings in shares of Axsome Therapeutics by 26.9% in the 1st quarter. RTW Investments LP now owns 3,780,855 shares of the company’s stock worth $233,203,000 after acquiring an additional 800,373 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Axsome Therapeutics by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,111,500 shares of the company’s stock worth $138,835,000 after acquiring an additional 309,362 shares during the last quarter. BVF Inc. IL increased its holdings in shares of Axsome Therapeutics by 21.4% in the first quarter. BVF Inc. IL now owns 2,131,100 shares of the company’s stock worth $131,446,000 after buying an additional 376,100 shares during the period. FMR LLC increased its holdings in shares of Axsome Therapeutics by 85.9% in the first quarter. FMR LLC now owns 1,364,954 shares of the company’s stock worth $84,190,000 after buying an additional 630,517 shares during the period. Finally, State Street Corp increased its holdings in shares of Axsome Therapeutics by 22.0% in the second quarter. State Street Corp now owns 852,983 shares of the company’s stock worth $32,669,000 after buying an additional 153,977 shares during the period. 76.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark Coleman sold 11,016 shares of the business’s stock in a transaction on Friday, September 15th. The shares were 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 approximately $1,887,043.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 24.50% of the company’s stock.

Axsome Therapeutics Trading Down 0.8 %

NASDAQ AXSM opened at $59.71 on Friday. Axsome Therapeutics, Inc. has a twelve month low of $49.60 and a twelve month high of $91.29. The stock’s 50 day moving average is $67.61 and its 200 day moving average is $72.86. The company has a quick ratio of 4.38, a current ratio of 4.46 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.83 billion, a PE ratio of -13.18 and a beta of 2.01.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, November 6th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.08). Axsome Therapeutics had a negative net margin of 90.33% and a negative return on equity of 88.79%. The business had revenue of $57.79 million for the quarter, compared to analysts’ expectations of $54.88 million. During the same period in the previous year, the company earned ($1.03) EPS. Research analysts forecast that Axsome Therapeutics, Inc. will post -4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AXSM shares. Bank of America upgraded Axsome Therapeutics from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $59.00 to $81.00 in a report on Tuesday, August 8th. Piper Sandler upgraded shares of Axsome Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $90.00 in a report on Monday, August 7th. HC Wainwright dropped their target price on shares of Axsome Therapeutics from $190.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. Mizuho reiterated a “buy” rating and set a $100.00 target price on shares of Axsome Therapeutics in a report on Monday, September 25th. Finally, William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.22.

About Axsome Therapeutics

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.