Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 38,571.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,043 shares of the company’s stock after purchasing an additional 21,986 shares during the period. GAMMA Investing LLC’s holdings in Axsome Therapeutics were worth $2,571,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AXSM. Strategic Financial Concepts LLC acquired a new position in shares of Axsome Therapeutics in the fourth quarter valued at about $2,599,000. Principal Financial Group Inc. increased its holdings in shares of Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock valued at $17,520,000 after purchasing an additional 203,672 shares during the period. Peregrine Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 21.2% in the fourth quarter. Peregrine Capital Management LLC now owns 87,187 shares of the company’s stock valued at $7,377,000 after purchasing an additional 15,258 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Axsome Therapeutics by 64.8% in the fourth quarter. New York State Common Retirement Fund now owns 22,491 shares of the company’s stock valued at $1,903,000 after purchasing an additional 8,843 shares during the period. Finally, IFP Advisors Inc grew its holdings in Axsome Therapeutics by 36.2% during the fourth quarter. IFP Advisors Inc now owns 67,839 shares of the company’s stock worth $5,740,000 after acquiring an additional 18,038 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Coleman sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.49, for a total value of $322,470.00. Following the transaction, the director now owns 54,137 shares in the company, valued at $5,819,186.13. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $638,674.52. This trade represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,423 shares of company stock worth $7,711,619 over the last quarter. 22.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on AXSM. Needham & Company LLC dropped their target price on Axsome Therapeutics from $153.00 to $150.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird raised their target price on Axsome Therapeutics from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Buy” and an average price target of $172.33.

Axsome Therapeutics Stock Down 1.7%

Shares of AXSM opened at $106.25 on Friday. The firm has a market cap of $5.23 billion, a P/E ratio of -17.74 and a beta of 0.47. The stock’s 50 day moving average is $106.32 and its two-hundred day moving average is $106.90. Axsome Therapeutics, Inc. has a 12 month low of $70.52 and a 12 month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22.

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.