Entropy Technologies LP Buys Shares of 8,192 Axsome Therapeutics, Inc. $AXSM

Entropy Technologies LP acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,192 shares of the company’s stock, valued at approximately $1,496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optiver Holding B.V. raised its stake in Axsome Therapeutics by 82.3% during the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after acquiring an additional 130 shares during the period. Advisory Services Network LLC bought a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at $40,000. GAMMA Investing LLC lifted its stake in shares of Axsome Therapeutics by 65.4% during the 4th quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after buying an additional 106 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Axsome Therapeutics by 602.6% during the 4th quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after buying an additional 235 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Axsome Therapeutics in the 3rd quarter worth $61,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Down 0.7%

AXSM opened at $253.40 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The stock’s fifty day moving average is $212.64 and its two-hundred day moving average is $182.89. The company has a market capitalization of $13.04 billion, a P/E ratio of -67.94 and a beta of 0.61. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $257.92.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. Analysts forecast that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on AXSM. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a report on Tuesday, May 5th. Piper Sandler reiterated an “overweight” rating and issued a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Morgan Stanley upgraded shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday. Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a research report on Monday, May 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.79.

Insider Activity

In related news, Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00. Following the completion of the sale, the director directly owned 35,140 shares in the company, valued at $8,092,742. This trade represents a 14.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark L. Jacobson sold 4,517 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the transaction, the chief operating officer owned 4,517 shares in the company, valued at approximately $1,029,604.98. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 113,686 shares of company stock worth $26,666,006 over the last quarter. Company insiders own 20.60% of the company’s stock.

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.