J. Safra Sarasin Holding AG Sells 2,754 Shares of Axsome Therapeutics, Inc. $AXSM

J. Safra Sarasin Holding AG lessened its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 37.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,629 shares of the company’s stock after selling 2,754 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Axsome Therapeutics were worth $782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in Axsome Therapeutics in the 4th quarter valued at about $31,000. Ameriflex Group Inc. acquired a new stake in Axsome Therapeutics during the fourth quarter worth approximately $37,000. Advisory Services Network LLC acquired a new stake in Axsome Therapeutics during the third quarter worth approximately $40,000. GAMMA Investing LLC boosted its holdings in shares of Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after acquiring an additional 106 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings 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 worth $50,000 after acquiring an additional 235 shares during the period. Institutional investors own 81.49% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AXSM. Oppenheimer set a $280.00 target price on Axsome Therapeutics in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a report on Tuesday, May 5th. UBS Group boosted their price target on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, July 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $259.05.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $235.26 on Wednesday. The company’s 50 day simple moving average is $237.45 and its 200 day simple moving average is $196.83. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of -63.07 and a beta of 0.60. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business’s revenue was up 57.4% compared to the same quarter last year. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -2.43 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 33,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,742,261.29. This trade represents a 87.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,352 shares of company stock worth $38,598,262 in the last three months. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Company 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.