Cynosure Group LLC Has $635,000 Stake in Axsome Therapeutics, Inc. $AXSM

Cynosure Group LLC reduced its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 55.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,475 shares of the company’s stock after selling 4,369 shares during the quarter. Cynosure Group LLC’s holdings in Axsome Therapeutics were worth $635,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after purchasing an additional 106 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Axsome Therapeutics during the third quarter valued at approximately $40,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Axsome Therapeutics by 87.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 374 shares of the company’s stock valued at $68,000 after purchasing an additional 175 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Axsome Therapeutics Trading Down 0.7%

Shares of NASDAQ AXSM opened at $253.40 on Tuesday. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $257.92. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The company’s fifty day moving average is $212.64 and its 200-day moving average is $182.89. The stock has a market cap of $13.04 billion, a price-to-earnings ratio of -67.94 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. The company’s quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AXSM. Royal Bank Of Canada increased their price target on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $256.79.

Insider Buying and Selling at Axsome Therapeutics

In related news, Director Mark Coleman sold 643 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director owned 30,389 shares of the company’s stock, valued at approximately $7,566,861. The trade was a 2.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This represents a 43.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,686 shares of company stock worth $26,666,006 in the last ninety days. Insiders own 20.60% of the company’s stock.

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.