Elevation Point Wealth Partners LLC Invests $385,000 in Axsome Therapeutics, Inc. $AXSM

Elevation Point Wealth Partners LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 1st quarter, Holdings Channel.com reports. The firm purchased 2,277 shares of the company’s stock, valued at approximately $385,000.

A number of other large investors have also added to or reduced their stakes in AXSM. Franklin Street Advisors Inc. NC purchased a new position in Axsome Therapeutics in the fourth quarter worth about $1,826,000. Pictet Asset Management Holding SA lifted its stake in shares of Axsome Therapeutics by 20.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after buying an additional 73,925 shares in the last quarter. Norges Bank purchased a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $90,490,000. JPMorgan Chase & Co. grew its holdings in shares of Axsome Therapeutics by 42.6% during the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock valued at $30,425,000 after buying an additional 74,885 shares during the last quarter. Finally, Axiom Investors LLC DE increased its position in shares of Axsome Therapeutics by 28.7% during the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after acquiring an additional 14,137 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 49,666 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,736,767.25. The trade was a 87.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Mahony sold 300 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director directly owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. The trade was a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 163,352 shares of company stock valued at $38,598,262 in the last quarter. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Trading Up 1.4%

Axsome Therapeutics stock opened at $248.95 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $260.19. The company has a market cap of $12.81 billion, a P/E ratio of -66.74 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The business has a 50-day simple moving average of $235.80 and a two-hundred day simple moving average of $195.18.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company’s revenue was up 57.4% on a year-over-year basis. Analysts predict that Axsome Therapeutics, Inc. will post -2.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXSM. Mizuho upped their price objective on Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Guggenheim lifted their target price on Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 4th. TD Cowen boosted their price target on Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a report on Tuesday, May 5th. Finally, Morgan Stanley raised Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $259.05.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.