D.A. Davidson & CO. Has $695,000 Stock Position in Axsome Therapeutics, Inc. $AXSM

D.A. Davidson & CO. decreased its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,655 shares of the company’s stock after selling 100 shares during the period. D.A. Davidson & CO.’s holdings in Axsome Therapeutics were worth $695,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Axsome Therapeutics by 42.8% in the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock worth $34,484,000 after buying an additional 88,606 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth about $2,229,000. Trek Financial LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth about $3,446,000. Edgestream Partners L.P. acquired a new stake in shares of Axsome Therapeutics in the first quarter worth about $8,174,000. Finally, Nuveen LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth about $48,185,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity at Axsome Therapeutics

In related news, CEO Herriot Tabuteau sold 27,907 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $859,961.84. The trade was a 79.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Mark L. Jacobson sold 45,783 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total value of $5,241,237.84. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 243,332 shares of company stock worth $28,824,746 over the last three months. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Trading Down 0.9%

Axsome Therapeutics stock opened at $133.51 on Wednesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The business’s 50-day simple moving average is $122.10 and its 200-day simple moving average is $111.86. The firm has a market capitalization of $6.66 billion, a PE ratio of -26.33 and a beta of 0.52. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on AXSM shares. B. Riley started coverage on Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price target for the company. Morgan Stanley boosted their price target on Axsome Therapeutics from $191.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Wells Fargo & Company raised Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 3rd. Bank of America boosted their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $178.20.

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.