Axsome Therapeutics, Inc. $AXSM Stock Holdings Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 12.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,093 shares of the company’s stock after selling 16,791 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.23% of Axsome Therapeutics worth $19,791,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AXSM. Wellington Management Group LLP raised its holdings in 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 buying an additional 609,516 shares during the period. First Trust Advisors LP raised its holdings in shares of Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after acquiring an additional 534,066 shares during the period. Norges Bank acquired a new stake in shares of Axsome Therapeutics during the fourth quarter valued at approximately $90,490,000. Price T Rowe Associates Inc. MD lifted its position in shares of Axsome Therapeutics by 45.5% in 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 acquiring an additional 472,422 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Axsome Therapeutics by 73.3% in the 3rd quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after purchasing an additional 419,008 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $217.99 on Friday. The business’s 50-day simple moving average is $239.21 and its 200-day simple moving average is $202.71. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $260.19. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of -58.44 and a beta of 0.60.

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

Wall Street Analyst Weigh In

AXSM has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on shares of Axsome Therapeutics in a report on Tuesday, May 5th. Oppenheimer set a $280.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Finally, Mizuho cut their price objective on Axsome Therapeutics from $310.00 to $306.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $261.29.

Insider Activity at Axsome Therapeutics

In other news, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director directly owned 58,653 shares in the company, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the sale, 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 155,852 shares of company stock valued at $37,230,112. 20.60% of the stock is owned by corporate insiders.

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.