Boxer Capital Management LLC Buys New Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Boxer Capital Management LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 470,000 shares of the company’s stock, valued at approximately $39,767,000. Axsome Therapeutics accounts for 3.4% of Boxer Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Boxer Capital Management LLC owned about 0.97% of Axsome Therapeutics at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AXSM. Pitcairn Co. boosted its stake in shares of Axsome Therapeutics by 3.4% in the fourth quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after purchasing an additional 148 shares during the period. Meridian Wealth Management LLC lifted its holdings in Axsome Therapeutics by 0.7% in the 4th quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Axsome Therapeutics by 4.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,852 shares of the company’s stock valued at $326,000 after buying an additional 162 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock valued at $766,000 after acquiring an additional 164 shares in the last quarter. Finally, Intrust Bank NA increased its position in shares of Axsome Therapeutics by 6.9% during the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock worth $239,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % 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 this link. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Down 0.0 %

Shares of Axsome Therapeutics stock opened at $112.24 on Friday. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of -18.74 and a beta of 0.88. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The business’s 50 day simple moving average is $113.88 and its 200-day simple moving average is $103.67.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The firm had revenue of $118.77 million for the quarter, compared to analyst estimates of $117.83 million. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AXSM shares. Needham & Company LLC reissued a “buy” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Royal Bank of Canada raised their price target on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley upped their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Truist Financial increased their price objective on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.87.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.