Eventide Asset Management LLC Has $104.20 Million Stock Position in Axsome Therapeutics, Inc. $AXSM

Eventide Asset Management LLC lessened its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,226 shares of the company’s stock after selling 175,172 shares during the period. Axsome Therapeutics comprises 1.6% of Eventide Asset Management LLC’s holdings, making the stock its 10th largest position. Eventide Asset Management LLC’s holdings in Axsome Therapeutics were worth $104,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AXSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Axsome Therapeutics by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock worth $2,557,000 after purchasing an additional 1,002 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Axsome Therapeutics by 2,407.9% during the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after purchasing an additional 7,320 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Axsome Therapeutics by 38.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after purchasing an additional 84,151 shares in the last quarter. Caxton Associates LLP bought a new position in Axsome Therapeutics during the 1st quarter worth about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Axsome Therapeutics by 29.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after purchasing an additional 17,250 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AXSM. Robert W. Baird increased their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. UBS Group raised their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Mizuho raised their target price on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.79.

Axsome Therapeutics Trading Up 0.6%

Shares of NASDAQ:AXSM opened at $255.17 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $257.92. The company has a market capitalization of $13.13 billion, a P/E ratio of -68.41 and a beta of 0.61. The company has a 50-day simple moving average of $210.94 and a 200 day simple moving average of $181.95. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results 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 company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. Axsome Therapeutics’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the transaction, the director directly owned 35,140 shares of the company’s stock, valued at $8,092,742. This represents a 14.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the transaction, the chief operating officer directly owned 4,517 shares in the company, valued at approximately $1,029,604.98. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 113,686 shares of company stock worth $26,666,006. 20.60% of the stock is currently owned by insiders.

Axsome Therapeutics Company 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.