Forbes J M & Co. LLP Lowers Stake in Axsome Therapeutics, Inc. $AXSM

Forbes J M & Co. LLP lowered its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,704 shares of the company’s stock after selling 136 shares during the quarter. Forbes J M & Co. LLP’s holdings in Axsome Therapeutics were worth $387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Two Sigma Advisers LP grew its holdings in shares of Axsome Therapeutics by 85.3% during the 4th quarter. Two Sigma Advisers LP now owns 6,300 shares of the company’s stock valued at $533,000 after purchasing an additional 2,900 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Axsome Therapeutics by 20.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,642 shares of the company’s stock valued at $4,877,000 after purchasing an additional 9,928 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Axsome Therapeutics by 38,571.9% during the 1st quarter. GAMMA Investing LLC now owns 22,043 shares of the company’s stock valued at $2,571,000 after purchasing an additional 21,986 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Axsome Therapeutics by 6.9% during the 1st quarter. Rhumbline Advisers now owns 54,760 shares of the company’s stock valued at $6,387,000 after purchasing an additional 3,515 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Axsome Therapeutics during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AXSM shares. Morgan Stanley started coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 target price on the stock. Oppenheimer started coverage on shares of Axsome Therapeutics in a report on Tuesday, June 3rd. They set an “outperform” rating and a $185.00 target price on the stock. Royal Bank Of Canada increased their target price on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a report on Monday, August 4th. Finally, Bank of America raised their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Buy” and an average price target of $177.86.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $121.45 on Wednesday. The firm has a market cap of $6.06 billion, a PE ratio of -23.95 and a beta of 0.54. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. The company’s fifty day simple moving average is $114.01 and its two-hundred day simple moving average is $110.19.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. As a group, equities analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Insider Activity

In other news, CEO Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $114.19, for a total transaction of $2,251,712.61. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at approximately $825,479.51. The trade was a 73.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Coleman bought 1,575 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were bought at an average cost of $127.28 per share, for a total transaction of $200,466.00. Following the purchase, the director directly owned 48,212 shares in the company, valued at approximately $6,136,423.36. This represents a 3.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 197,948 shares of company stock worth $23,406,686. 22.40% of the stock is owned by company insiders.

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.