Frontier Capital Management Co. LLC Sells 67,772 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Frontier Capital Management Co. LLC reduced its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 56.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,768 shares of the company’s stock after selling 67,772 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Axsome Therapeutics were worth $4,465,000 at the end of the most recent reporting period.

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

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $107.76 on Friday. The stock has a 50-day simple moving average of $112.01 and a 200 day simple moving average of $104.51. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -17.99 and a beta of 0.46. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. On average, research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXSM has been the topic of several analyst reports. Mizuho boosted their price target on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $190.00 to $193.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Finally, 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 price target on the stock. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $172.14.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.30% of the company’s stock.

About Axsome Therapeutics

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.