Brevan Howard Capital Management LP Boosts Stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Brevan Howard Capital Management LP increased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 169.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,748 shares of the company’s stock after buying an additional 24,393 shares during the quarter. Brevan Howard Capital Management LP owned about 0.08% of Axsome Therapeutics worth $3,278,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in Axsome Therapeutics during the 4th quarter valued at about $52,000. R Squared Ltd purchased a new stake in Axsome Therapeutics in the fourth quarter valued at approximately $64,000. Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics in the 4th quarter worth approximately $76,000. KBC Group NV raised its position in Axsome Therapeutics by 40.5% during the 4th quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after buying an additional 385 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company’s stock valued at $225,000 after acquiring an additional 277 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the transaction, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 22.40% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $116.49 on Tuesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04. The stock’s 50 day simple moving average is $113.35 and its 200-day simple moving average is $104.18. The company has a market cap of $5.73 billion, a PE ratio of -19.45 and a beta of 0.46. Axsome Therapeutics, Inc. has a 1-year low of $64.11 and a 1-year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.43. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AXSM. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Needham & Company LLC reiterated a “buy” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. Jefferies Financial Group started coverage on Axsome Therapeutics in a research note on Monday, April 7th. They issued a “buy” rating and a $200.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Finally, Leerink Partners upped their price objective on Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $169.87.

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.