Y Intercept Hong Kong Ltd Acquires 17,895 Shares of Axsome Therapeutics, Inc. $AXSM

Y Intercept Hong Kong Ltd grew its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 140.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,640 shares of the company’s stock after acquiring an additional 17,895 shares during the period. Y Intercept Hong Kong Ltd owned 0.06% of Axsome Therapeutics worth $3,199,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. BVF Inc. IL grew its position in Axsome Therapeutics by 21.8% in the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock worth $197,130,000 after acquiring an additional 302,157 shares in the last quarter. Invesco Ltd. grew its position in Axsome Therapeutics by 23.8% in the first quarter. Invesco Ltd. now owns 857,001 shares of the company’s stock worth $99,952,000 after acquiring an additional 164,537 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Axsome Therapeutics by 4.5% in the first quarter. Wellington Management Group LLP now owns 703,279 shares of the company’s stock worth $82,023,000 after buying an additional 30,122 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Axsome Therapeutics in the first quarter worth $48,185,000. Finally, Northern Trust Corp lifted its stake in shares of Axsome Therapeutics by 2.1% in the first quarter. Northern Trust Corp now owns 410,969 shares of the company’s stock worth $47,931,000 after buying an additional 8,469 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

AXSM has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Axsome Therapeutics from $191.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research note on Monday, August 4th. Finally, Bank of America boosted their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $178.20.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $133.33 on Thursday. The stock has a market cap of $6.65 billion, a P/E ratio of -26.30 and a beta of 0.52. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $139.13. The company has a fifty day moving average price of $122.43 and a 200 day moving average price of $112.11. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.51.

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

Insider Activity at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 45,783 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $114.48, for a total transaction of $5,241,237.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger Jeffs sold 20,000 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $121.60, for a total transaction of $2,432,000.00. Following the completion of the sale, the director directly owned 90,974 shares in the company, valued at $11,062,438.40. This trade represents a 18.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 243,332 shares of company stock worth $28,824,746 in the last ninety days. 22.30% of the stock is currently owned by insiders.

Axsome Therapeutics Profile

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.