Twin Tree Management LP Invests $116,000 in Axsome Therapeutics, Inc. $AXSM

Twin Tree Management LP acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 997 shares of the company’s stock, valued at approximately $116,000.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Axsome Therapeutics by 42.8% during the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock worth $34,484,000 after buying an additional 88,606 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Axsome Therapeutics during the first quarter worth about $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Axsome Therapeutics by 20.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock worth $4,877,000 after buying an additional 9,928 shares in the last quarter. Trek Financial LLC bought a new position in shares of Axsome Therapeutics during the first quarter worth about $3,446,000. Finally, Edgestream Partners L.P. bought a new position in shares of Axsome Therapeutics during the first quarter worth about $8,174,000. 81.49% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Mark L. Jacobson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the sale, the chief operating officer directly owned 5,783 shares of the company’s stock, valued at $638,674.52. This trade represents a 81.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Roger Jeffs sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $121.60, for a total value of $2,432,000.00. Following the completion of the sale, the director directly owned 90,974 shares of the company’s stock, valued at approximately $11,062,438.40. The trade was a 18.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,708 shares of company stock valued at $11,720,812 over the last three months. Insiders own 22.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AXSM. Royal Bank Of Canada increased their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Morgan Stanley started coverage on Axsome Therapeutics in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $190.00 price target for the company. Wells Fargo & Company restated an “overweight” rating and issued a $165.00 price target (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $178.00.

Axsome Therapeutics Stock Performance

AXSM opened at $121.28 on Tuesday. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -23.92 and a beta of 0.54. The business has a 50 day moving average of $108.60 and a 200-day moving average of $110.92. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The company had revenue of $150.04 million during the quarter, compared to analysts’ expectations of $140.02 million. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Axsome Therapeutics Profile

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.