Bank of New York Mellon Corp Cuts Stock Position in Axsome Therapeutics, Inc. $AXSM

Bank of New York Mellon Corp reduced its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 19.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,644 shares of the company’s stock after selling 48,453 shares during the quarter. Bank of New York Mellon Corp’s holdings in Axsome Therapeutics were worth $34,927,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $31,000. Ameriflex Group Inc. purchased a new stake in Axsome Therapeutics in the fourth quarter worth approximately $37,000. Advisory Services Network LLC purchased a new stake in Axsome Therapeutics in the third quarter worth approximately $40,000. GAMMA Investing LLC grew its position in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock valued at $49,000 after acquiring an additional 106 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock valued at $50,000 after acquiring an additional 235 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $241.00 on Monday. 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, Inc. has a one year low of $96.09 and a one year high of $260.19. The business’s 50 day simple moving average is $239.25 and its two-hundred day simple moving average is $200.80. The stock has a market capitalization of $12.40 billion, a P/E ratio of -64.61 and a beta of 0.60.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics’s revenue was up 57.4% compared to the same quarter last year. Analysts forecast that Axsome Therapeutics, Inc. will post -2.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on AXSM. Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $290.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $261.48.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,666 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total value of $11,932,256.50. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,736,767.25. This trade represents a 87.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total transaction of $160,107.00. Following the completion of the sale, the director directly owned 30,389 shares in the company, valued at approximately $7,566,861. This trade represents a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 155,852 shares of company stock worth $37,230,112 over the last ninety days. Insiders own 20.60% of the company’s stock.

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.