Castleark Management LLC Buys 19,250 Shares of Axsome Therapeutics, Inc. $AXSM

Castleark Management LLC lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 102.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,040 shares of the company’s stock after purchasing an additional 19,250 shares during the quarter. Castleark Management LLC owned about 0.08% of Axsome Therapeutics worth $3,971,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Moors & Cabot Inc. raised its stake in Axsome Therapeutics by 4.5% during the 2nd quarter. Moors & Cabot Inc. now owns 2,330 shares of the company’s stock worth $243,000 after buying an additional 100 shares during the period. Assetmark Inc. grew its stake in Axsome Therapeutics by 13.9% in the second quarter. Assetmark Inc. now owns 1,124 shares of the company’s stock valued at $117,000 after acquiring an additional 137 shares during the period. Profund Advisors LLC increased its holdings in shares of Axsome Therapeutics by 4.6% during the second quarter. Profund Advisors LLC now owns 4,063 shares of the company’s stock valued at $424,000 after acquiring an additional 180 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics during the first quarter worth approximately $25,000. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of Axsome Therapeutics by 5.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company’s stock worth $606,000 after purchasing an additional 250 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AXSM shares. Wells Fargo & Company decreased their price target on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $154.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 4th. Mizuho upped their target price on shares of Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. HC Wainwright lifted their price target on Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $179.88.

Axsome Therapeutics Trading Down 0.4%

NASDAQ:AXSM opened at $148.17 on Monday. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $152.94. The firm has a 50-day moving average price of $137.80 and a two-hundred day moving average price of $120.49. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of -31.73 and a beta of 0.47.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The business’s revenue was up 63.2% on a year-over-year basis. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 45,783 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total value of $5,241,237.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 91,705 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $132.34, for a total value of $12,136,239.70. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $956,685.86. This represents a 92.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 364,798 shares of company stock worth $47,534,862. Insiders own 22.40% of the company’s stock.

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.