Renaissance Technologies LLC Sells 5,700 Shares of Axsome Therapeutics, Inc. $AXSM

Renaissance Technologies LLC decreased its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 164,300 shares of the company’s stock after selling 5,700 shares during the period. Renaissance Technologies LLC owned 0.32% of Axsome Therapeutics worth $27,770,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AXSM. Price T Rowe Associates Inc. MD increased its position in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after buying an additional 472,422 shares during the period. Wellington Management Group LLP boosted its position in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the period. Invesco Ltd. grew its stake in Axsome Therapeutics by 28.6% during the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after acquiring an additional 282,937 shares in the last quarter. Geode Capital Management LLC increased its holdings in Axsome Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after acquiring an additional 12,549 shares during the period. Finally, State Street Corp increased its holdings in Axsome Therapeutics by 5.8% during the 2nd quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after acquiring an additional 52,483 shares during the period. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research report on Tuesday, May 5th. Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a research note on Monday, May 4th. Zacks Research lowered Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Finally, Robert W. Baird raised their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.48.

Insider Activity

In related news, CFO Nick Pizzie sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the transaction, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan Mahony sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the completion of the sale, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. The trade was a 20.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 155,852 shares of company stock worth $37,230,112. 20.60% of the stock is currently owned by insiders.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $227.42 on Thursday. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $260.19. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market cap of $11.70 billion, a P/E ratio of -60.97 and a beta of 0.60. The firm’s fifty day moving average price is $239.55 and its 200-day moving average price is $202.14.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The company’s revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

About Axsome Therapeutics

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.