Assenagon Asset Management S.A. Raises Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Assenagon Asset Management S.A. increased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 62.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 294,771 shares of the company’s stock after purchasing an additional 113,811 shares during the period. Assenagon Asset Management S.A. owned approximately 0.59% of Axsome Therapeutics worth $35,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at about $31,000. AlphaQuest LLC purchased a new position in shares of Axsome Therapeutics in the first quarter worth approximately $38,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Axsome Therapeutics during the first quarter valued at approximately $47,000. Ameritas Advisory Services LLC purchased a new stake in Axsome Therapeutics during the second quarter valued at approximately $77,000. Finally, Twin Tree Management LP bought a new position in Axsome Therapeutics in the first quarter worth approximately $116,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 0.7%

AXSM opened at $147.00 on Friday. The stock has a 50-day moving average of $139.96 and a 200 day moving average of $121.45. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $152.94. The firm has a market cap of $7.41 billion, a P/E ratio of -31.48 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data 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 firm 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%.Axsome Therapeutics’s quarterly revenue was up 63.2% on a year-over-year basis. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AXSM. Mizuho upped their price target on Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. B. Riley assumed coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They set a “buy” rating and a $179.00 target price on the stock. Guggenheim lifted their price target on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Morgan Stanley upped their price target on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.88.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 10,558 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total value of $1,564,484.44. Following the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,071,193.22. This represents a 59.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 10,000 shares of Axsome Therapeutics stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total value of $1,159,600.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 299,296 shares of company stock worth $40,041,911. Company insiders own 22.30% 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.