Vanguard Group Inc. Sells 25,537 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Vanguard Group Inc. reduced its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,876,942 shares of the company’s stock after selling 25,537 shares during the period. Vanguard Group Inc. owned approximately 7.87% of Axsome Therapeutics worth $452,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AXSM. Principal Financial Group Inc. raised its position in Axsome Therapeutics by 42.8% during the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock valued at $34,484,000 after purchasing an additional 88,606 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $2,229,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Axsome Therapeutics by 20.8% during the fourth 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 in the last quarter. Trek Financial LLC acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $3,446,000. Finally, Edgestream Partners L.P. acquired a new position in Axsome Therapeutics during the first quarter valued at approximately $8,174,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $109.21 on Friday. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of -21.54 and a beta of 0.51. Axsome Therapeutics, Inc. has a twelve month low of $75.56 and a twelve month high of $139.13. The stock has a fifty day simple moving average of $105.62 and a 200 day simple moving average of $110.95. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million for 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%. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Axsome Therapeutics in a report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price target for the company. Royal Bank Of Canada upped their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. HC Wainwright reiterated a “buy” rating and set a $180.00 price target on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a report on Monday, August 4th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Buy” and a consensus target price of $178.00.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark Coleman sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $105.47, for a total transaction of $395,512.50. Following the sale, the director owned 50,387 shares of the company’s stock, valued at approximately $5,314,316.89. This represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark L. Jacobson sold 25,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the sale, the chief operating officer directly owned 5,783 shares in the company, valued at $638,674.52. This trade represents a 81.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,437 shares of company stock valued at $9,834,215. 22.30% of the stock is currently owned by 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.