Assenagon Asset Management S.A. Cuts Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Assenagon Asset Management S.A. lowered its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 86.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,483 shares of the company’s stock after selling 29,486 shares during the period. Assenagon Asset Management S.A.’s holdings in Axsome Therapeutics were worth $403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Planning increased its stake in Axsome Therapeutics by 29.8% in the 3rd quarter. Creative Planning now owns 10,854 shares of the company’s stock worth $975,000 after purchasing an additional 2,489 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Axsome Therapeutics by 19.4% in the third quarter. Handelsbanken Fonder AB now owns 12,300 shares of the company’s stock worth $1,105,000 after buying an additional 2,000 shares during the period. SG Americas Securities LLC bought a new stake in Axsome Therapeutics during the 3rd quarter valued at $1,038,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at $47,000. Finally, Clearbridge Investments LLC boosted its position in Axsome Therapeutics by 19.5% during the 2nd quarter. Clearbridge Investments LLC now owns 106,767 shares of the company’s stock valued at $8,595,000 after buying an additional 17,397 shares during the period. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In related news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Down 0.2 %

Shares of Axsome Therapeutics stock opened at $88.84 on Monday. Axsome Therapeutics, Inc. has a 1 year low of $55.02 and a 1 year high of $98.40. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -13.65 and a beta of 1.26. The company has a 50-day moving average of $90.22 and a 200 day moving average of $82.92. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.48 and a quick ratio of 2.40.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.06. Axsome Therapeutics had a negative net margin of 105.85% and a negative return on equity of 117.46%. The business had revenue of $87.17 million during the quarter, compared to the consensus estimate of $84.53 million. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and issued a $180.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. Finally, Wells Fargo & Company began coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 price target for the company. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.64.

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.