Corient Private Wealth LLC Invests $239,000 in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Corient Private Wealth LLC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,829 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Assetmark Inc. acquired a new position in Axsome Therapeutics during the 4th quarter valued at $52,000. R Squared Ltd bought a new position in shares of Axsome Therapeutics during the 4th quarter worth about $64,000. KBC Group NV raised its position in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after buying an additional 385 shares during the last quarter. Flower City Capital bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $254,000. Finally, Aigen Investment Management LP bought a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $395,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $116.63 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The firm has a market cap of $5.69 billion, a PE ratio of -19.47 and a beta of 1.00. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $139.13. The company’s 50-day moving average price is $120.16 and its two-hundred day moving average price is $101.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. On average, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Analyst Ratings Changes

AXSM has been the subject of several recent research reports. Mizuho upped their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Axsome Therapeutics in a research report on Tuesday, February 11th. They set a “buy” rating and a $176.00 price objective on the stock. Truist Financial raised their target price on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.64.

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.