California Public Employees Retirement System Purchases New Position in Axsome Therapeutics, Inc. $AXSM

California Public Employees Retirement System purchased a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 50,879 shares of the company’s stock, valued at approximately $8,600,000.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Axsome Therapeutics by 45.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after purchasing an additional 472,422 shares during the period. Wellington Management Group LLP increased its holdings in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Axsome Therapeutics by 28.6% in the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after purchasing an additional 282,937 shares during the period. Geode Capital Management LLC lifted its stake in shares of Axsome Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after purchasing an additional 12,549 shares during the period. Finally, State Street Corp boosted its holdings in Axsome Therapeutics by 5.8% during the second quarter. State Street Corp now owns 958,503 shares of the company’s stock worth $100,058,000 after buying an additional 52,483 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 0.2%

Shares of AXSM stock opened at $241.00 on Friday. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $260.19. The company has a market cap of $12.40 billion, a price-to-earnings ratio of -64.61 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. The stock has a 50 day simple moving average of $239.25 and a 200-day simple moving average of $200.60.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The company had revenue of $191.20 million during the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. Axsome Therapeutics’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts expect that Axsome Therapeutics, Inc. will post -2.45 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 4,517 shares of the 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 transaction, the chief operating officer directly owned 4,517 shares of the company’s stock, valued at $1,029,604.98. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares in the company, valued at approximately $10,291,938.03. This trade represents a 43.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 155,852 shares of company stock valued at $37,230,112 in the last three months. Company insiders own 20.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $290.00 price target on shares of Axsome Therapeutics in a research report on Wednesday, July 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. BMO Capital Markets began coverage on shares of Axsome Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $310.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.48.

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.