Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Cut by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,736 shares of the company’s stock after selling 221 shares during the quarter. Wells Fargo & Company MN owned approximately 0.08% of Axsome Therapeutics worth $3,362,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AXSM. Pitcairn Co. grew its position in Axsome Therapeutics by 3.4% during the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after purchasing an additional 148 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at $1,195,000. Geode Capital Management LLC grew its holdings in shares of Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company’s stock valued at $77,228,000 after acquiring an additional 4,079 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Axsome Therapeutics by 13.6% in the fourth quarter. Franklin Resources Inc. now owns 182,290 shares of the company’s stock worth $15,424,000 after acquiring an additional 21,756 shares during the last quarter. Finally, Intrust Bank NA raised its holdings in shares of Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock worth $239,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $176.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They set a “buy” rating and a $200.00 price target on the stock. Finally, Mizuho lifted their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $169.80.

Axsome Therapeutics Trading Up 0.8 %

Axsome Therapeutics stock opened at $103.82 on Wednesday. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $139.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm has a market capitalization of $5.06 billion, a PE ratio of -17.33 and a beta of 0.88. The business’s 50-day simple moving average is $117.03 and its 200-day simple moving average is $102.66.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The company had revenue of $118.77 million for the quarter, compared to the consensus estimate of $117.83 million. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s 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 directly owns 42,187 shares in the company, valued at $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 22.40% of the stock is currently owned by 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.