Axsome Therapeutics, Inc. $AXSM Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lowered its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,800 shares of the company’s stock after selling 18,800 shares during the period. Rhenman & Partners Asset Management AB owned approximately 0.18% of Axsome Therapeutics worth $9,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moors & Cabot Inc. grew its holdings in Axsome Therapeutics by 4.5% in the second quarter. Moors & Cabot Inc. now owns 2,330 shares of the company’s stock valued at $243,000 after purchasing an additional 100 shares during the last quarter. Assetmark Inc. raised its position in Axsome Therapeutics by 13.9% during the second quarter. Assetmark Inc. now owns 1,124 shares of the company’s stock worth $117,000 after acquiring an additional 137 shares during the last quarter. Profund Advisors LLC lifted its holdings in shares of Axsome Therapeutics by 4.6% in the second quarter. Profund Advisors LLC now owns 4,063 shares of the company’s stock valued at $424,000 after purchasing an additional 180 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $25,000. Finally, Tocqueville Asset Management L.P. raised its position in shares of Axsome Therapeutics by 5.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,200 shares of the company’s stock worth $606,000 after purchasing an additional 250 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $150.36 on Wednesday. The company has a market cap of $7.58 billion, a P/E ratio of -29.66 and a beta of 0.50. The firm’s 50 day moving average is $129.95 and its two-hundred day moving average is $116.62. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $152.94. 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, November 3rd. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The firm had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. The business’s revenue for the quarter was up 63.2% on a year-over-year basis. Analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 45,783 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 91,705 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $132.34, for a total transaction of $12,136,239.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $956,685.86. The trade was a 92.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 370,577 shares of company stock valued at $46,235,199 in the last three months. Corporate insiders own 22.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $154.00 price target on shares of Axsome Therapeutics in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. Bank of America raised their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. B. Riley assumed coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They set a “buy” rating and a $179.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics currently 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.