Axsome Therapeutics, Inc. $AXSM Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277,465 shares of the company’s stock after selling 6,705 shares during the period. Loomis Sayles & Co. L P owned about 0.56% of Axsome Therapeutics worth $28,965,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Axsome Therapeutics in the 1st quarter worth approximately $25,000. Quantbot Technologies LP acquired a new position in Axsome Therapeutics in the first quarter worth $31,000. AlphaQuest LLC acquired a new stake in shares of Axsome Therapeutics during the first quarter worth $38,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Axsome Therapeutics in the 1st quarter worth about $47,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Axsome Therapeutics during the second quarter worth about $77,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Price Performance

NASDAQ AXSM opened at $151.56 on Friday. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $152.94. The business’s fifty day moving average is $131.99 and its two-hundred day moving average is $117.46. The stock has a market capitalization of $7.64 billion, a P/E ratio of -29.89 and a beta of 0.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57.

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

Wall Street Analyst Weigh In

AXSM has been the subject of several recent research reports. Guggenheim upped their target price on Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and issued a $154.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 4th. Morgan Stanley lifted their target price on Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Wells Fargo & Company decreased their price target on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. Finally, HC Wainwright raised their price target on Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $179.88.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were 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 approximately $956,685.86. This represents a 92.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 45,783 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total transaction of $5,241,237.84. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 350,577 shares of company stock worth $43,803,199 in the last quarter. 22.30% of the stock is owned by company insiders.

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.