Stanley Laman Group Ltd. Purchases New Stake in Axsome Therapeutics, Inc. $AXSM

Stanley Laman Group Ltd. acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the third quarter, HoldingsChannel reports. The institutional investor acquired 17,501 shares of the company’s stock, valued at approximately $2,125,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Axsome Therapeutics by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 989,453 shares of the company’s stock worth $103,303,000 after buying an additional 54,600 shares during the last quarter. State Street Corp grew its position in shares of Axsome Therapeutics by 5.8% during the 2nd quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after buying an additional 52,483 shares during the last quarter. Bank of America Corp DE raised its stake in Axsome Therapeutics by 41.1% during the second quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after acquiring an additional 219,527 shares during the period. Man Group plc lifted its holdings in Axsome Therapeutics by 2.3% in the second quarter. Man Group plc now owns 525,069 shares of the company’s stock worth $54,812,000 after acquiring an additional 11,848 shares during the last quarter. Finally, Norges Bank acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $48,889,000. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Mark E. Saad sold 37,577 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $165.18, for a total value of $6,206,968.86. Following the completion of the sale, the director directly owned 10,002 shares of the company’s stock, valued at approximately $1,652,130.36. This represents a 78.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Herriot Tabuteau sold 10,558 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $148.18, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 307,653 shares of company stock worth $42,779,613 over the last 90 days. 22.40% of the stock is owned by insiders.

Axsome Therapeutics Trading Down 2.2%

NASDAQ:AXSM opened at $178.69 on Monday. Axsome Therapeutics, Inc. has a 1 year low of $79.19 and a 1 year high of $184.40. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of -38.26, a PEG ratio of 12.83 and a beta of 0.44. The business has a fifty day moving average of $147.29 and a 200-day moving average of $125.78. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AXSM shares. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday. Royal Bank Of Canada upped their price objective on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Mizuho set a $217.00 target price on Axsome Therapeutics in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Finally, Needham & Company LLC increased their price objective on shares of Axsome Therapeutics from $154.00 to $169.00 and gave the stock a “buy” rating in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $183.94.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.