Element Squared LLC Invests $1.48 Million in Axsome Therapeutics, Inc. $AXSM

Element Squared LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,079 shares of the company’s stock, valued at approximately $1,476,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aberdeen Group plc boosted its holdings in shares of Axsome Therapeutics by 2.9% in the 4th quarter. Aberdeen Group plc now owns 97,413 shares of the company’s stock worth $17,792,000 after purchasing an additional 2,765 shares in the last quarter. Birch Financial Group LLC purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $200,000. Pallas Capital Advisors LLC raised its holdings in shares of Axsome Therapeutics by 11.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 43,909 shares of the company’s stock valued at $8,020,000 after buying an additional 4,465 shares in the last quarter. SG Americas Securities LLC lifted its position in Axsome Therapeutics by 46.2% in the 4th quarter. SG Americas Securities LLC now owns 17,681 shares of the company’s stock worth $3,229,000 after buying an additional 5,584 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Axsome Therapeutics by 58.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 467,982 shares of the company’s stock worth $85,472,000 after buying an additional 173,211 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $168.51 on Friday. The stock has a market cap of $8.62 billion, a P/E ratio of -45.67 and a beta of 0.48. Axsome Therapeutics, Inc. has a fifty-two week low of $86.99 and a fifty-two week high of $191.50. The stock has a 50 day simple moving average of $171.42 and a two-hundred day simple moving average of $153.60. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) 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 firm had revenue of $196.00 million for the quarter, compared to analysts’ expectations of $191.33 million. Axsome Therapeutics’s revenue for the quarter was up 65.0% compared to the same quarter last year. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AXSM. Wells Fargo & Company increased their price target on shares of Axsome Therapeutics from $193.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Guggenheim upped their price objective on shares of Axsome Therapeutics from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Axsome Therapeutics in a report on Wednesday, January 14th. Jefferies Financial Group set a $215.00 target price on shares of Axsome Therapeutics in a research report on Monday, February 23rd. Finally, Piper Sandler boosted their price target on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.59.

Insider Activity

In other Axsome Therapeutics news, Director Mark Coleman sold 25,000 shares of Axsome Therapeutics stock in a transaction that occurred on 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 sale, the director directly owned 47,140 shares of the company’s stock, valued at approximately $7,594,725.40. The trade was a 34.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 32,410 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $185.60, for a total value of $6,015,296.00. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $1,341,702.40. This represents a 81.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 251,702 shares of company stock worth $43,289,994. 22.30% of the stock is owned by company insiders.

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.