Axsome Therapeutics, Inc. $AXSM Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 34.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,178 shares of the company’s stock after buying an additional 32,241 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Axsome Therapeutics were worth $31,129,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new position in Axsome Therapeutics during the second quarter worth $759,695,000. Price T Rowe Associates Inc. MD lifted its holdings in Axsome Therapeutics by 45.5% in 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 acquiring an additional 472,422 shares during the period. Wellington Management Group LLP boosted its position in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Invesco Ltd. grew its stake in shares of Axsome Therapeutics by 28.6% during the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after purchasing an additional 12,549 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Roger Jeffs sold 286 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director owned 58,653 shares of the company’s stock, valued at $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan Mahony sold 300 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total transaction of $71,163.00. Following the completion of the sale, the director directly owned 1,129 shares of the company’s stock, valued at $267,810.09. The trade was a 20.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 193,229 shares of company stock worth $44,752,676 in the last quarter. Corporate insiders own 20.60% of the company’s stock.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $208.35 on Friday. The business’s fifty day moving average price is $224.52 and its two-hundred day moving average price is $207.48. The stock has a market cap of $10.91 billion, a PE ratio of -55.56 and a beta of 0.71. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. Axsome Therapeutics, Inc. has a one year low of $112.90 and a one year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly 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 company had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. TD Cowen upped their target price on Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Mizuho lifted their price target on Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Finally, Needham & Company LLC increased their price objective on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $267.60.

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.