Hood River Capital Management LLC Acquires New Holdings in Axsome Therapeutics, Inc. $AXSM

Hood River Capital Management LLC bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, Holdings Channel.com reports. The fund bought 371,104 shares of the company’s stock, valued at approximately $38,740,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Federated Hermes Inc. grew its position in shares of Axsome Therapeutics by 117.3% in the second quarter. Federated Hermes Inc. now owns 56,469 shares of the company’s stock valued at $5,895,000 after purchasing an additional 30,479 shares during the last quarter. Jump Financial LLC lifted its stake in Axsome Therapeutics by 38.7% in the 2nd quarter. Jump Financial LLC now owns 128,500 shares of the company’s stock valued at $13,414,000 after buying an additional 35,860 shares in the last quarter. Bosun Asset Management LLC acquired a new stake in Axsome Therapeutics during the 2nd quarter valued at $211,000. First Trust Advisors LP grew its holdings in Axsome Therapeutics by 114.7% during the 2nd quarter. First Trust Advisors LP now owns 62,160 shares of the company’s stock valued at $6,489,000 after buying an additional 33,209 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its position in Axsome Therapeutics by 380.2% during the second quarter. Kennedy Capital Management LLC now owns 27,955 shares of the company’s stock worth $2,918,000 after buying an additional 22,133 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Herriot Tabuteau sold 91,705 shares of Axsome Therapeutics stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $132.34, for a total value of $12,136,239.70. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $956,685.86. This trade represents a 92.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 45,783 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total value of $5,241,237.84. The SEC filing for this sale provides additional information. Insiders sold 407,959 shares of company stock worth $52,645,040 in the last quarter. 22.40% of the stock is owned by insiders.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $149.22 on Monday. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $152.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The company has a 50 day moving average price of $134.97 and a 200 day moving average price of $118.96. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of -31.95 and a beta of 0.47.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The company had revenue of $170.99 million during the quarter, compared to analyst estimates of $162.96 million. The company’s revenue was up 63.2% on a year-over-year basis. Sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AXSM shares. Royal Bank Of Canada increased their price objective on Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Mizuho raised their price target on shares of Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Guggenheim boosted their price objective on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $154.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. Finally, Morgan Stanley lifted their target price on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.88.

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.