Readystate Asset Management LP Cuts Stock Position in Axsome Therapeutics, Inc. $AXSM

Readystate Asset Management LP lessened its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 81.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,860 shares of the company’s stock after selling 76,711 shares during the period. Readystate Asset Management LP’s holdings in Axsome Therapeutics were worth $2,169,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AXSM. GSA Capital Partners LLP bought a new stake in shares of Axsome Therapeutics in the 3rd quarter worth about $579,000. Vanguard Group Inc. grew its position in Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after acquiring an additional 235,626 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Axsome Therapeutics by 4.4% during the third quarter. Pallas Capital Advisors LLC now owns 39,444 shares of the company’s stock worth $4,790,000 after acquiring an additional 1,672 shares during the last quarter. JPMorgan Chase & Co. raised its position in Axsome Therapeutics by 42.6% during the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock valued at $30,425,000 after purchasing an additional 74,885 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Axsome Therapeutics by 0.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 18,158 shares of the company’s stock valued at $2,205,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXSM. Oppenheimer reissued an “outperform” rating and set a $220.00 target price on shares of Axsome Therapeutics in a research report on Wednesday, December 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 21st. Jefferies Financial Group raised their target price on shares of Axsome Therapeutics from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Mizuho set a $217.00 price target on shares of Axsome Therapeutics in a report on Wednesday, December 31st. Finally, Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $157.00 to $193.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Seventeen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.65.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $183.30 on Wednesday. The firm’s 50 day simple moving average is $171.71 and its 200-day simple moving average is $142.74. 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, Inc. has a one year low of $86.99 and a one year high of $191.50. The firm has a market cap of $9.24 billion, a PE ratio of -39.25, a price-to-earnings-growth ratio of 11.70 and a beta of 0.40.

Insider Transactions at Axsome Therapeutics

In other news, insider Ari Maizel sold 7,500 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total transaction of $1,383,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Nick Pizzie sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $187.92, for a total value of $2,255,040.00. Following the transaction, the chief financial officer owned 42,588 shares in the company, valued at approximately $8,003,136.96. This represents a 21.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 308,874 shares of company stock valued at $51,390,805. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Profile

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.