Assenagon Asset Management S.A. Acquires 623,717 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Assenagon Asset Management S.A. raised its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 16,852.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 627,418 shares of the company’s stock after acquiring an additional 623,717 shares during the period. Assenagon Asset Management S.A.’s holdings in Axsome Therapeutics were worth $73,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in Axsome Therapeutics in the 4th quarter worth about $2,599,000. Principal Financial Group Inc. increased its stake in shares of Axsome Therapeutics by 6,002.7% in the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company’s stock worth $17,520,000 after purchasing an additional 203,672 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in Axsome Therapeutics by 21.2% during the fourth quarter. Peregrine Capital Management LLC now owns 87,187 shares of the company’s stock valued at $7,377,000 after acquiring an additional 15,258 shares during the period. New York State Common Retirement Fund lifted its holdings in Axsome Therapeutics by 64.8% in the 4th quarter. New York State Common Retirement Fund now owns 22,491 shares of the company’s stock worth $1,903,000 after purchasing an additional 8,843 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Axsome Therapeutics by 36.2% during the 4th quarter. IFP Advisors Inc now owns 67,839 shares of the company’s stock valued at $5,740,000 after purchasing an additional 18,038 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Coleman sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $105.47, for a total value of $395,512.50. Following the sale, the director now owns 50,387 shares of the company’s stock, valued at $5,314,316.89. The trade was a 6.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of Axsome Therapeutics stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the transaction, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,423 shares of company stock valued at $7,711,619. Company insiders own 22.30% of the company’s stock.

Axsome Therapeutics Trading Down 1.7%

Axsome Therapeutics stock opened at $108.08 on Thursday. Axsome Therapeutics, Inc. has a 12 month low of $70.11 and a 12 month high of $139.13. The company’s fifty day simple moving average is $106.16 and its 200-day simple moving average is $106.84. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The stock has a market cap of $5.32 billion, a P/E ratio of -18.04 and a beta of 0.47.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AXSM shares. Oppenheimer began coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 target price for the company. Needham & Company LLC cut their price target on shares of Axsome Therapeutics from $153.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $165.00 price objective (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Mizuho upped their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Finally, Truist Financial upped their price target on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $172.80.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.