Royce & Associates LP Raises Position in Axsome Therapeutics, Inc. $AXSM

Royce & Associates LP increased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 117.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,036 shares of the company’s stock after buying an additional 30,279 shares during the quarter. Royce & Associates LP owned 0.11% of Axsome Therapeutics worth $6,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Axsome Therapeutics in the second quarter worth about $48,889,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Axsome Therapeutics by 831.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock valued at $46,662,000 after acquiring an additional 399,000 shares in the last quarter. Hood River Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the 2nd quarter valued at approximately $38,740,000. Vanguard Group Inc. boosted its stake in Axsome Therapeutics by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after purchasing an additional 235,626 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Axsome Therapeutics by 41.1% during the 2nd quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after purchasing an additional 219,527 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $164.08 on Thursday. The firm’s fifty day moving average is $176.42 and its two-hundred day moving average is $147.52. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of -44.47 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.48 and a current ratio of 1.55. Axsome Therapeutics, Inc. has a one year low of $86.99 and a one year high of $191.50.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.14. Axsome Therapeutics had a negative return on equity of 232.61% and a negative net margin of 28.69%.The business had revenue of $196.00 million during the quarter, compared to analysts’ expectations of $191.33 million. The company’s revenue for the quarter was up 65.0% on a year-over-year basis. Research analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 78,703 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $171.28, for a total value of $13,480,249.84. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,238,183.12. This represents a 91.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nick Pizzie sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $187.92, for a total transaction of $2,255,040.00. Following the sale, the chief financial officer directly owned 42,588 shares in the company, valued at $8,003,136.96. The trade was a 21.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 289,279 shares of company stock valued at $49,496,963 in the last three months. 22.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on AXSM. Guggenheim raised their price target on shares of Axsome Therapeutics from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Axsome Therapeutics in a research note on Monday, February 23rd. HC Wainwright boosted their price target on Axsome Therapeutics from $200.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Truist Financial set a $200.00 price objective on Axsome Therapeutics in a report on Monday, February 23rd. Seventeen analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $216.12.

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.