Pallas Capital Advisors LLC Acquires Shares of 40,511 Axsome Therapeutics, Inc. $AXSM

Pallas Capital Advisors LLC bought a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 40,511 shares of the company’s stock, valued at approximately $9,916,000.

A number of other hedge funds have also bought and sold shares of AXSM. Kemnay Advisory Services Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at about $31,000. Hollencrest Capital Management raised its stake in Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 160 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics in the fourth quarter worth about $37,000. Advisory Services Network LLC acquired a new stake in shares of Axsome Therapeutics in the 3rd quarter worth approximately $40,000. Finally, Farther Finance Advisors LLC lifted its position in Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares during the period. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $216.27 on Tuesday. Axsome Therapeutics, Inc. has a 12-month low of $109.40 and a 12-month high of $260.19. The stock has a 50-day simple moving average of $235.16 and a 200 day simple moving average of $205.39. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of -57.67 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. On average, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXSM. Robert W. Baird raised their price objective on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Oppenheimer set a $280.00 price target on Axsome Therapeutics in a research note on Monday, May 4th. Zacks Research lowered shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. The trade was a 43.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Herriot Tabuteau sold 49,670 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 200,766 shares of company stock worth $46,685,646. Company insiders own 20.60% of the company’s stock.

About Axsome Therapeutics

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.