Axsome Therapeutics, Inc. $AXSM Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 58.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,982 shares of the company’s stock after purchasing an additional 173,211 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.93% of Axsome Therapeutics worth $85,472,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AXSM. Wealth Enhancement Advisory Services LLC raised its stake in shares of Axsome Therapeutics by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,758 shares of the company’s stock worth $3,740,000 after purchasing an additional 253 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Axsome Therapeutics by 65.4% in the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after buying an additional 106 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Axsome Therapeutics by 42.6% in the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock worth $30,425,000 after buying an additional 74,885 shares during the last quarter. Allworth Financial LP increased its holdings in Axsome Therapeutics by 6.6% in the third quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock worth $175,000 after buying an additional 89 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Axsome Therapeutics by 5.0% during the third quarter. CIBC Private Wealth Group LLC now owns 14,375 shares of the company’s stock valued at $1,746,000 after acquiring an additional 686 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the sale, the chief financial officer directly owned 42,588 shares in the company, valued at $8,003,136.96. This trade represents a 21.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Coleman sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $161.11, for a total transaction of $4,027,750.00. Following the transaction, the director owned 47,140 shares in the company, valued at approximately $7,594,725.40. The trade was a 34.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 289,279 shares of company stock worth $49,496,963. 22.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AXSM. Piper Sandler lifted their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Oppenheimer restated an “outperform” rating and set a $220.00 price target on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Truist Financial set a $200.00 price objective on shares of Axsome Therapeutics in a research note on Monday, February 23rd. Mizuho set a $230.00 price objective on shares of Axsome Therapeutics in a report on Thursday, February 19th. Finally, Jefferies Financial Group set a $215.00 target price on shares of Axsome Therapeutics in a research report on Monday, February 23rd. Seventeen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.12.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $158.75 on Wednesday. Axsome Therapeutics, Inc. has a 12 month low of $86.99 and a 12 month high of $191.50. The company has a market cap of $8.12 billion, a P/E ratio of -43.02 and a beta of 0.43. The business’s 50 day moving average is $174.05 and its two-hundred day moving average is $151.65. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 1.38.

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