3,663 Shares in Axsome Therapeutics, Inc. $AXSM Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,663 shares of the company’s stock, valued at approximately $619,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AXSM. Birchview Capital LP boosted its position in shares of Axsome Therapeutics by 1.0% during the 4th quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock valued at $1,107,000 after acquiring an additional 61 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after purchasing an additional 65 shares during the last quarter. Xponance LLC increased its position in Axsome Therapeutics by 2.4% during the fourth quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares during the last quarter. Assetmark Inc. raised its stake in Axsome Therapeutics by 7.2% during the first quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock worth $200,000 after purchasing an additional 79 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Axsome Therapeutics by 4.2% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,190 shares of the company’s stock worth $400,000 after purchasing an additional 89 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AXSM. Guggenheim increased their price target on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research note on Monday, May 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $261.48.

Insider Buying and Selling

In other Axsome Therapeutics news, Director Susan Mahony sold 300 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $237.21, for a total transaction of $71,163.00. Following the sale, the director directly owned 1,129 shares in the company, valued at $267,810.09. This represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 sale, the chief financial officer owned 42,867 shares in the company, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 155,852 shares of company stock worth $37,230,112 over the last 90 days. 20.60% of the stock is owned by insiders.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $234.20 on Wednesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market capitalization of $12.05 billion, a P/E ratio of -62.79 and a beta of 0.60. The company has a 50 day moving average price of $239.62 and a 200 day moving average price of $201.72. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $260.19.

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). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

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.