Magnetar Financial LLC Invests $2.12 Million in Axsome Therapeutics, Inc. $AXSM

Magnetar Financial LLC bought a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to its most recent filing with the SEC. The firm bought 20,315 shares of the company’s stock, valued at approximately $2,121,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXSM. Caitong International Asset Management Co. Ltd acquired a new position in Axsome Therapeutics during the first quarter worth $25,000. Quantbot Technologies LP bought a new stake in shares of Axsome Therapeutics during the first quarter worth about $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $38,000. Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics in the 1st quarter worth about $41,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Axsome Therapeutics in the 1st quarter valued at about $47,000. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, COO Mark L. Jacobson sold 10,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $115.96, for a total transaction of $1,159,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Herriot Tabuteau sold 21,775 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $134.49, for a total transaction of $2,928,519.75. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $972,228.21. The trade was a 75.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 390,577 shares of company stock valued at $48,635,799 in the last 90 days. 22.30% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $149.44 on Friday. The business’s fifty day simple moving average is $128.53 and its 200 day simple moving average is $115.98. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $149.77. The firm has a market capitalization of $7.53 billion, a P/E ratio of -29.48 and a beta of 0.50.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. The business’s revenue was up 63.2% on a year-over-year basis. As a group, analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AXSM. Wells Fargo & Company decreased their price objective on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. Mizuho lifted their target price on Axsome Therapeutics from $200.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Guggenheim increased their price target on Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $154.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.88.

Axsome Therapeutics Company 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.