Affinity Asset Advisors LLC Has $5.22 Million Holdings in Axsome Therapeutics, Inc. $AXSM

Affinity Asset Advisors LLC decreased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 50.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after selling 50,000 shares during the quarter. Affinity Asset Advisors LLC owned 0.10% of Axsome Therapeutics worth $5,220,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AXSM. Norges Bank bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at approximately $48,889,000. Nuveen LLC acquired a new stake in Axsome Therapeutics in the first quarter valued at approximately $48,185,000. 1832 Asset Management L.P. bought a new stake in shares of Axsome Therapeutics during the first quarter worth $42,360,000. BVF Inc. IL grew its stake in shares of Axsome Therapeutics by 21.8% during the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock worth $197,130,000 after buying an additional 302,157 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Axsome Therapeutics during the first quarter worth $31,140,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 10,558 shares of Axsome Therapeutics stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $148.18, for a total value of $1,564,484.44. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,071,193.22. The trade was a 59.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $115.96, for a total transaction of $1,159,600.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 407,959 shares of company stock valued at $52,645,040. Insiders own 22.30% of the company’s stock.

Analyst Ratings Changes

AXSM has been the topic of several recent research reports. Morgan Stanley raised their price objective on Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Mizuho lifted their price target on Axsome Therapeutics from $200.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Wells Fargo & Company dropped their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $154.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.88.

Axsome Therapeutics Stock Performance

AXSM stock opened at $149.22 on Friday. The stock has a 50-day moving average price of $134.97 and a 200-day moving average price of $118.80. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $152.94. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. The firm has a market cap of $7.52 billion, a PE ratio of -31.95 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The business had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm’s quarterly revenue was up 63.2% compared to the same quarter last year. As a group, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.