Axsome Therapeutics, Inc. $AXSM Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 52.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,505 shares of the company’s stock after selling 19,128 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Axsome Therapeutics were worth $4,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after buying an additional 472,422 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Axsome Therapeutics by 84.1% in the 3rd 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 last quarter. Invesco Ltd. boosted its holdings in shares of Axsome Therapeutics by 28.6% in the 4th 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Axsome Therapeutics by 1.3% in the fourth 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 stake in shares of Axsome Therapeutics by 5.8% in the second 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 and hedge funds own 81.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AXSM shares. Mizuho decreased their target price on shares of Axsome Therapeutics from $310.00 to $306.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $290.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Morgan Stanley upgraded Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday, June 11th. Piper Sandler reissued an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Wells Fargo & Company upped their target price on Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.55.

Axsome Therapeutics Stock Performance

AXSM opened at $212.74 on Monday. The firm has a fifty day moving average price of $236.95 and a 200 day moving average price of $204.15. Axsome Therapeutics, Inc. has a 1 year low of $102.67 and a 1 year high of $260.19. The stock has a market cap of $10.95 billion, a P/E ratio of -57.03 and a beta of 0.65. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Insider Activity

In other 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 sale, the chief financial officer directly owned 42,867 shares in the company, valued at $10,291,938.03. This trade represents a 43.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 200,766 shares of company stock worth $46,685,646 over the last three months. Corporate insiders own 20.60% of the company’s stock.

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.