HighVista Strategies LLC Lowers Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

HighVista Strategies LLC reduced its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 33.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,542 shares of the company’s stock after selling 20,650 shares during the quarter. Axsome Therapeutics accounts for 1.3% of HighVista Strategies LLC’s holdings, making the stock its 17th largest position. HighVista Strategies LLC owned approximately 0.09% of Axsome Therapeutics worth $3,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of AXSM. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics during the 2nd quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Axsome Therapeutics during the second quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Axsome Therapeutics by 22.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after purchasing an additional 318 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Axsome Therapeutics in the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Axsome Therapeutics in the third quarter valued at approximately $236,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the transaction, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $99.08 on Tuesday. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $105.00. The stock has a market cap of $4.80 billion, a PE ratio of -15.17 and a beta of 1.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The stock has a 50 day moving average price of $91.68 and a 200 day moving average price of $86.11.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $98.71 million. During the same period last year, the company earned ($1.32) EPS. Equities research analysts expect that Axsome Therapeutics, Inc. will post -4.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AXSM shares. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 16th. Wells Fargo & Company assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $180.00 price target on shares of Axsome Therapeutics in a research note on Monday, November 25th. Finally, StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Company Profile

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.