Affinity Asset Advisors LLC Sells 50,000 Shares of Axsome Therapeutics, Inc. $AXSM

Affinity Asset Advisors LLC lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 50.0% in the second quarter, HoldingsChannel reports. The fund owned 50,000 shares of the company’s stock after selling 50,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Axsome Therapeutics were worth $5,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXSM. Norges Bank acquired a new position in shares of Axsome Therapeutics during the second quarter worth approximately $48,889,000. Nuveen LLC acquired a new stake in Axsome Therapeutics in the 1st quarter valued at $48,185,000. 1832 Asset Management L.P. bought a new stake in Axsome Therapeutics during the 1st quarter valued at $42,360,000. BVF Inc. IL raised its holdings in Axsome Therapeutics by 21.8% during the first quarter. BVF Inc. IL now owns 1,690,221 shares of the company’s stock worth $197,130,000 after buying an additional 302,157 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Axsome Therapeutics during the first quarter worth $31,140,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Up 0.8%

Axsome Therapeutics stock opened at $149.22 on Friday. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $152.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The firm’s 50-day simple moving average is $134.97 and its 200 day simple moving average is $118.80. The stock has a market cap of $7.52 billion, a PE ratio of -31.95 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm had revenue of $170.99 million for the quarter, compared to the consensus estimate of $162.96 million. Axsome Therapeutics’s quarterly revenue was up 63.2% on a year-over-year basis. Research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AXSM shares. Guggenheim lifted their price objective on shares of Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Mizuho raised their price target on shares of Axsome Therapeutics from $200.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Needham & Company LLC reiterated a “buy” rating and set a $154.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Finally, HC Wainwright increased their price objective on Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $179.88.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 10,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $115.96, for a total value of $1,159,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Herriot Tabuteau sold 10,558 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $148.18, for a total value of $1,564,484.44. Following the completion of the transaction, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,071,193.22. This trade represents a 59.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 407,959 shares of company stock valued at $52,645,040 over the last ninety days. 22.30% of the stock is currently owned by company insiders.

Axsome Therapeutics Company 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.