Nicholas Investment Partners LP Takes Position in Axsome Therapeutics, Inc. $AXSM

Nicholas Investment Partners LP purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 98,974 shares of the company’s stock, valued at approximately $24,226,000. Axsome Therapeutics makes up 1.4% of Nicholas Investment Partners LP’s holdings, making the stock its 12th biggest holding. Nicholas Investment Partners LP owned about 0.19% of Axsome Therapeutics as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in AXSM. BlackRock Inc. bought a new position in Axsome Therapeutics during the second quarter valued at approximately $759,695,000. Wellington Management Group LLP grew its position in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after acquiring an additional 609,516 shares in the last quarter. First Trust Advisors LP grew its position in Axsome Therapeutics by 1,230.2% in the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock worth $97,606,000 after acquiring an additional 534,066 shares in the last quarter. Norges Bank acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth $90,490,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $275,763,000 after purchasing an additional 472,422 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 33,000 shares of the business’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 completion of the transaction, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Coleman sold 6,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the sale, the director owned 35,140 shares of the company’s stock, valued at approximately $8,092,742. The trade was a 14.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 200,766 shares of company stock valued at $46,685,646. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $205.40 on Tuesday. The firm has a market capitalization of $10.76 billion, a PE ratio of -54.77 and a beta of 0.65. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. The firm’s fifty day simple moving average is $231.17 and its 200 day simple moving average is $206.29.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The firm had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Axsome Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. Cantor Fitzgerald restated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Morgan Stanley increased their price objective on Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Finally, Guggenheim raised their price objective on Axsome Therapeutics from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.60.

Axsome Therapeutics Profile

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.