Oak Ridge Investments LLC Sells 616 Shares of Axsome Therapeutics, Inc. $AXSM

Oak Ridge Investments LLC trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSMFree Report) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,306 shares of the company’s stock after selling 616 shares during the period. Oak Ridge Investments LLC’s holdings in Axsome Therapeutics were worth $1,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aberdeen Group plc raised its stake in Axsome Therapeutics by 28.1% in the 2nd quarter. Aberdeen Group plc now owns 81,916 shares of the company’s stock valued at $8,551,000 after acquiring an additional 17,962 shares during the period. US Bancorp DE raised its stake in Axsome Therapeutics by 0.4% in the 2nd quarter. US Bancorp DE now owns 130,847 shares of the company’s stock valued at $13,659,000 after acquiring an additional 552 shares during the period. KLP Kapitalforvaltning AS raised its stake in Axsome Therapeutics by 36.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,200 shares of the company’s stock valued at $1,169,000 after acquiring an additional 3,000 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in Axsome Therapeutics by 24.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 19,912 shares of the company’s stock valued at $2,079,000 after acquiring an additional 3,932 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Axsome Therapeutics in the 2nd quarter valued at about $77,000. 81.49% of the stock is currently owned by institutional investors.

Insider Transactions at Axsome Therapeutics

In other news, CEO Herriot Tabuteau sold 27,907 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $859,961.84. The trade was a 79.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark L. Jacobson sold 45,783 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total value of $5,241,237.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,332 shares of company stock valued at $28,824,746. 22.30% of the stock is owned by corporate insiders.

Axsome Therapeutics Trading Down 0.7%

Shares of AXSM opened at $121.71 on Friday. The business’s 50-day moving average price is $116.84 and its 200-day moving average price is $109.93. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The stock has a market cap of $6.07 billion, a PE ratio of -24.01 and a beta of 0.52. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSMGet Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.08. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The firm had revenue of $150.04 million for the quarter, compared to analysts’ expectations of $140.02 million. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Axsome Therapeutics from $184.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Bank of America boosted their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. B. Riley assumed coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Buy” and an average price target of $177.93.

View Our Latest Research Report on AXSM

Axsome Therapeutics Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Axsome Therapeutics (NASDAQ:AXSM)

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