Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Decreased by Lindbrook Capital LLC

Lindbrook Capital LLC lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 22.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,041 shares of the company’s stock after selling 14,103 shares during the period. Axsome Therapeutics accounts for about 0.5% of Lindbrook Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Lindbrook Capital LLC’s holdings in Axsome Therapeutics were worth $5,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Axsome Therapeutics in the first quarter worth approximately $31,000. Raiffeisen Bank International AG purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at $51,000. Aquatic Capital Management LLC purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at $76,000. GF Fund Management CO. LTD. purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at $86,000. Finally, Bank Hapoalim BM acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $204,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 0.5%

Axsome Therapeutics stock opened at $111.70 on Friday. Axsome Therapeutics, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $139.13. The stock has a market cap of $5.50 billion, a PE ratio of -19.36 and a beta of 0.46. The firm’s 50-day simple moving average is $106.55 and its 200 day simple moving average is $109.31. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark Coleman sold 3,750 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total value of $395,512.50. Following the completion of the transaction, the director directly owned 50,387 shares in the company, valued at $5,314,316.89. This trade represents a 6.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the firm’s 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 owned 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. Insiders sold 93,437 shares of company stock valued at $9,834,215 in the last quarter. Company insiders own 22.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AXSM shares. Wells Fargo & Company reissued an “overweight” rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Royal Bank Of Canada cut their price objective on shares of Axsome Therapeutics from $193.00 to $186.00 and set an “outperform” rating for the company in a research report on Thursday, June 12th. Needham & Company LLC dropped their price target on shares of Axsome Therapeutics from $153.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, June 9th. Finally, Jefferies Financial Group started coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They issued a “buy” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of “Buy” and an average target price of $172.33.

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.