Rhumbline Advisers Has $6.39 Million Stock Position in Axsome Therapeutics, Inc. $AXSM

Rhumbline Advisers increased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 6.9% during the first quarter, Holdings Channel.com reports. The fund owned 54,760 shares of the company’s stock after buying an additional 3,515 shares during the period. Rhumbline Advisers’ holdings in Axsome Therapeutics were worth $6,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company’s stock worth $4,621,000 after acquiring an additional 136 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics in the first quarter worth approximately $25,000. GF Fund Management CO. LTD. lifted its stake in shares of Axsome Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,241 shares of the company’s stock worth $145,000 after acquiring an additional 223 shares during the period. Xponance Inc. lifted its stake in shares of Axsome Therapeutics by 8.7% in the first quarter. Xponance Inc. now owns 2,891 shares of the company’s stock worth $337,000 after acquiring an additional 232 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its stake in shares of Axsome Therapeutics by 5.1% in the first quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company’s stock worth $606,000 after acquiring an additional 250 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axsome Therapeutics

In other news, General Counsel Hunter R. Murdock sold 6,014 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total transaction of $602,121.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman acquired 1,575 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $127.28 per share, with a total value of $200,466.00. Following the acquisition, the director owned 48,212 shares of the company’s stock, valued at approximately $6,136,423.36. This represents a 3.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 100,299 shares of company stock worth $11,766,554. Insiders own 22.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AXSM shares. Bank of America lifted their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Royal Bank Of Canada boosted their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. HC Wainwright reissued a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company raised Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $177.86.

Axsome Therapeutics Trading Down 3.7%

NASDAQ AXSM opened at $118.42 on Friday. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -23.36 and a beta of 0.54. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13. The business has a 50 day moving average price of $112.20 and a 200-day moving average price of $110.81. 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) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. The firm had revenue of $150.04 million during the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

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.