Fifth Third Bancorp Purchases 13,737 Shares of Axsome Therapeutics, Inc. $AXSM

Fifth Third Bancorp increased its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 554.6% in the first quarter, Holdings Channel.com reports. The firm owned 16,214 shares of the company’s stock after acquiring an additional 13,737 shares during the period. Fifth Third Bancorp’s holdings in Axsome Therapeutics were worth $2,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Axsome Therapeutics by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after purchasing an additional 1,002 shares during the period. Jones Financial Companies Lllp grew its position in shares of Axsome Therapeutics by 2,407.9% during the 1st quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after buying an additional 7,320 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Axsome Therapeutics by 38.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after buying an additional 84,151 shares during the period. Caxton Associates LLP bought a new stake in shares of Axsome Therapeutics during the first quarter worth approximately $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Axsome Therapeutics by 29.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock worth $8,735,000 after buying an additional 17,250 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on AXSM shares. Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Wells Fargo & Company upped their target price on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Needham & Company LLC increased their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on Axsome Therapeutics in a research note on Tuesday, May 5th. Finally, Oppenheimer set a $280.00 price objective on Axsome Therapeutics in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.48.

Axsome Therapeutics Stock Down 3.6%

Axsome Therapeutics stock opened at $221.64 on Tuesday. The company’s 50 day simple moving average is $238.45 and its 200 day simple moving average is $199.09. Axsome Therapeutics, Inc. has a fifty-two week low of $96.09 and a fifty-two week high of $260.19. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of -59.42 and a beta of 0.60. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last issued its 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). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Insider Activity at Axsome Therapeutics

In other news, insider Ari Maizel sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the transaction, the insider owned 7,500 shares of the company’s stock, valued at $1,368,150. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the sale, the chief operating officer owned 4,517 shares of the company’s stock, valued at approximately $1,029,604.98. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 163,352 shares of company stock valued at $38,598,262. 20.60% of the stock is owned by corporate insiders.

Axsome Therapeutics Company 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.