JPMorgan Chase & Co. Has $30.43 Million Holdings in Axsome Therapeutics, Inc. $AXSM

JPMorgan Chase & Co. boosted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 42.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,513 shares of the company’s stock after purchasing an additional 74,885 shares during the period. JPMorgan Chase & Co. owned 0.50% of Axsome Therapeutics worth $30,425,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after buying an additional 235,626 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in Axsome Therapeutics during the 3rd quarter worth about $2,125,000. Aberdeen Group plc grew its holdings in Axsome Therapeutics by 15.5% during the 3rd quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock worth $11,495,000 after acquiring an additional 12,732 shares during the last quarter. Swiss National Bank grew its holdings in 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 acquiring an additional 4,200 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Axsome Therapeutics by 107.7% in the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock valued at $5,367,000 after acquiring an additional 22,914 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 37,577 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $165.18, for a total value of $6,206,968.86. Following the transaction, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Herriot Tabuteau sold 78,703 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $171.28, for a total value of $13,480,249.84. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,238,183.12. This trade represents a 91.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 289,279 shares of company stock worth $49,496,963 over the last three months. Insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Axsome Therapeutics from $248.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. TD Cowen reissued a “buy” rating on shares of Axsome Therapeutics in a report on Monday, February 23rd. Mizuho set a $230.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, February 19th. Wolfe Research assumed coverage on Axsome Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Finally, Royal Bank Of Canada lifted their target price on Axsome Therapeutics from $219.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Seventeen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $216.12.

Axsome Therapeutics Stock Down 1.2%

Shares of NASDAQ:AXSM opened at $156.92 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.55 and a quick ratio of 1.48. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of -42.53 and a beta of 0.43. The company has a 50 day moving average of $174.76 and a 200-day moving average of $151.19. Axsome Therapeutics, Inc. has a one year low of $86.99 and a one year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.14. Axsome Therapeutics had a negative net margin of 28.69% and a negative return on equity of 232.61%. The firm had revenue of $196.00 million for the quarter, compared to analysts’ expectations of $191.33 million. The firm’s revenue was up 65.0% on a year-over-year basis. On average, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.