Knights of Columbus Asset Advisors LLC Grows Stake in Axsome Therapeutics, Inc. $AXSM

Knights of Columbus Asset Advisors LLC increased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 24.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,912 shares of the company’s stock after acquiring an additional 3,932 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Axsome Therapeutics were worth $2,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics in the first quarter worth about $25,000. NBC Securities Inc. purchased a new position in Axsome Therapeutics in the first quarter worth about $31,000. Quantbot Technologies LP purchased a new position in Axsome Therapeutics in the first quarter worth about $31,000. AlphaQuest LLC purchased a new position in Axsome Therapeutics in the first quarter worth about $38,000. Finally, Neo Ivy Capital Management purchased a new position in Axsome Therapeutics in the first quarter worth about $41,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Saturday, September 27th. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Axsome Therapeutics in a research report on Monday, August 4th. Royal Bank Of Canada boosted their target price on Axsome Therapeutics from $184.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. B. Riley initiated coverage on Axsome Therapeutics in a research report on Wednesday, October 1st. They set a “buy” rating and a $179.00 target price for the company. Finally, Wells Fargo & Company upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $177.93.

Insider Buying and Selling at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 45,783 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total value of $5,241,237.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Herriot Tabuteau sold 27,907 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at $859,961.84. This trade represents a 79.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,948 shares of company stock worth $23,406,686. 22.30% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Performance

Axsome Therapeutics stock opened at $119.94 on Tuesday. The company has a 50 day moving average price of $115.33 and a 200-day moving average price of $109.91. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13. The company has a market capitalization of $5.99 billion, a PE ratio of -23.66 and a beta of 0.52.

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

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.