Prosperity Wealth Management Inc. Purchases New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Prosperity Wealth Management Inc. purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,750 shares of the company’s stock, valued at approximately $321,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in Axsome Therapeutics by 16,852.7% during the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company’s stock valued at $73,176,000 after purchasing an additional 623,717 shares in the last quarter. Boxer Capital Management LLC purchased a new position in Axsome Therapeutics during the fourth quarter valued at $39,767,000. Lazard Asset Management LLC lifted its holdings in Axsome Therapeutics by 525.7% during the fourth quarter. Lazard Asset Management LLC now owns 537,669 shares of the company’s stock valued at $45,492,000 after purchasing an additional 451,737 shares in the last quarter. Norges Bank purchased a new position in Axsome Therapeutics during the fourth quarter valued at $34,100,000. Finally, BVF Inc. IL lifted its holdings in Axsome Therapeutics by 32.7% during the fourth quarter. BVF Inc. IL now owns 1,388,064 shares of the company’s stock valued at $117,444,000 after purchasing an additional 342,064 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Mark Coleman sold 3,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.49, for a total transaction of $322,470.00. Following the completion of the sale, the director now directly owns 54,137 shares in the company, valued at $5,819,186.13. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at approximately $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,423 shares of company stock worth $7,711,619. Insiders own 22.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a research note on Monday, April 7th. They issued a “buy” rating and a $200.00 price target on the stock. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Truist Financial raised their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Needham & Company LLC decreased their price target on shares of Axsome Therapeutics from $153.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, June 9th. Finally, Cantor Fitzgerald raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $172.33.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $101.60 on Wednesday. Axsome Therapeutics, Inc. has a 12-month low of $72.02 and a 12-month high of $139.13. The stock has a market cap of $5.00 billion, a P/E ratio of -17.61 and a beta of 0.47. The company has a 50-day moving average price of $106.53 and a 200 day moving average price of $107.04. The company has a current ratio of 2.03, a quick ratio of 1.96 and a debt-to-equity ratio of 3.48.

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.