Axsome Therapeutics, Inc. $AXSM Position Lowered by Eventide Asset Management LLC

Eventide Asset Management LLC trimmed its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 725,672 shares of the company’s stock after selling 19,178 shares during the period. Axsome Therapeutics accounts for about 1.3% of Eventide Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Eventide Asset Management LLC owned about 1.45% of Axsome Therapeutics worth $75,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXSM. BNP Paribas Financial Markets lifted its holdings in Axsome Therapeutics by 2.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 186,437 shares of the company’s stock worth $19,462,000 after buying an additional 3,805 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at approximately $522,000. Brevan Howard Capital Management LP bought a new position in Axsome Therapeutics during the second quarter worth $1,543,000. Bank of America Corp DE boosted its holdings in Axsome Therapeutics by 41.1% in the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after purchasing an additional 219,527 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Axsome Therapeutics by 831.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Wells Fargo & Company lowered their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. Royal Bank Of Canada raised their target price on shares of Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. B. Riley assumed coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 target price for the company. Finally, HC Wainwright upped their target price 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 assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.88.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 10,558 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $148.18, for a total value of $1,564,484.44. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,071,193.22. The trade was a 59.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 380,052 shares of company stock worth $49,325,224. 22.30% of the stock is owned by insiders.

Axsome Therapeutics Trading Down 0.4%

Shares of NASDAQ:AXSM opened at $148.17 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average price is $137.80 and its 200 day moving average price is $120.26. The company has a market cap of $7.47 billion, a PE ratio of -31.73 and a beta of 0.48. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $152.94.

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