Caxton Associates LLP Makes New Investment in Axsome Therapeutics, Inc. $AXSM

Caxton Associates LLP bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,311 shares of the company’s stock, valued at approximately $729,000.

Other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $31,000. Hollencrest Capital Management lifted its holdings in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Axsome Therapeutics in the fourth quarter worth approximately $37,000. Advisory Services Network LLC purchased a new position in Axsome Therapeutics in the third quarter worth approximately $40,000. Finally, GAMMA Investing LLC grew its position in Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research report on Monday, May 4th. Robert W. Baird increased their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Piper Sandler reiterated an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. BMO Capital Markets assumed coverage on Axsome Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $310.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $261.48.

Insider Activity at Axsome Therapeutics

In other news, Director Susan Mahony sold 300 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. This represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the sale, the director directly owned 35,140 shares in the company, valued at $8,092,742. This represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 155,852 shares of company stock worth $37,230,112 over the last ninety days. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $241.00 on Monday. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $260.19. The stock’s fifty day moving average is $239.25 and its two-hundred day moving average is $200.80. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of -64.61 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s revenue was up 57.4% compared to the same quarter last year. Research analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.