PDT Partners LLC Takes $1.05 Million Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

PDT Partners LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the third quarter, Holdings Channel.com reports. The firm purchased 11,701 shares of the company’s stock, valued at approximately $1,052,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Axsome Therapeutics in the 2nd quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics in the second quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Axsome Therapeutics by 22.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock worth $156,000 after buying an additional 318 shares during the last quarter. Moors & Cabot Inc. bought a new position in Axsome Therapeutics during the third quarter valued at approximately $200,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Axsome Therapeutics in the third quarter valued at approximately $236,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at approximately $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $98.22 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. The firm’s 50-day moving average is $91.53 and its 200-day moving average is $85.95. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $105.00. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -15.04 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter in the prior year, the firm posted ($1.32) EPS. Equities research analysts anticipate that Axsome Therapeutics, Inc. will post -4.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on AXSM. HC Wainwright restated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Monday, November 25th. Bank of America raised Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $106.00 in a research report on Tuesday, August 6th. Robert W. Baird raised their price objective on Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada upped their target price on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.93.

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.