HighTower Advisors LLC Grows Stock Position in Axsome Therapeutics, Inc. $AXSM

HighTower Advisors LLC boosted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 421.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,115 shares of the company’s stock after purchasing an additional 46,153 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Axsome Therapeutics worth $6,937,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Stanley Laman Group Ltd. purchased a new position in Axsome Therapeutics in the third quarter worth approximately $2,125,000. Aberdeen Group plc raised its holdings in shares of Axsome Therapeutics by 15.5% in the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock valued at $11,495,000 after purchasing an additional 12,732 shares in the last quarter. Swiss National Bank lifted its position in shares of Axsome Therapeutics by 6.9% during the 2nd quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after purchasing an additional 4,200 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Axsome Therapeutics by 55.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock worth $21,257,000 after purchasing an additional 72,609 shares during the last quarter. Finally, Cabot Wealth Management Inc. acquired a new position in shares of Axsome Therapeutics during the third quarter worth $675,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling at Axsome Therapeutics

In other news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the sale, the director directly owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. This represents a 78.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ari Maizel sold 7,500 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total transaction of $1,383,300.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 308,874 shares of company stock worth $51,390,805 in the last 90 days. Company insiders own 22.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AXSM shares. Wells Fargo & Company lifted their price target on Axsome Therapeutics from $157.00 to $193.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Leerink Partners raised their target price on Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. UBS Group upped their price target on Axsome Therapeutics from $163.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Guggenheim reiterated a “buy” rating and issued a $205.00 price target on shares of Axsome Therapeutics in a research note on Friday, January 2nd. Finally, TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research report on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.07.

Axsome Therapeutics Trading Down 1.3%

AXSM opened at $183.72 on Monday. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of -39.34, a price-to-earnings-growth ratio of 13.22 and a beta of 0.40. Axsome Therapeutics, Inc. has a 52 week low of $86.99 and a 52 week high of $191.50. The business’s 50 day moving average is $173.88 and its two-hundred day moving average is $144.44. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics Company 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.