Alethea Capital Management LLC Has $122.13 Million Stock Position in Axsome Therapeutics, Inc. $AXSM

Alethea Capital Management LLC trimmed its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 668,710 shares of the company’s stock after selling 2,173 shares during the period. Axsome Therapeutics makes up 59.3% of Alethea Capital Management LLC’s portfolio, making the stock its largest holding. Alethea Capital Management LLC’s holdings in Axsome Therapeutics were worth $122,133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in shares of Axsome Therapeutics by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after buying an additional 65 shares during the period. Allworth Financial LP lifted its position in shares of Axsome Therapeutics by 6.6% during the 3rd quarter. Allworth Financial LP now owns 1,442 shares of the company’s stock valued at $175,000 after buying an additional 89 shares in the last quarter. Covestor Ltd increased its stake in shares of Axsome Therapeutics by 19.6% in the fourth quarter. Covestor Ltd now owns 599 shares of the company’s stock worth $110,000 after purchasing an additional 98 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Axsome Therapeutics by 65.4% in the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after purchasing an additional 106 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Axsome Therapeutics by 0.6% during 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 period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 233 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $228.18, for a total transaction of $53,165.94. Following the completion of the transaction, the chief operating officer owned 4,517 shares in the company, valued at $1,030,689.06. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Coleman sold 5,537 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $223.39, for a total value of $1,236,910.43. Following the completion of the sale, the director owned 29,603 shares in the company, valued at approximately $6,613,014.17. The trade was a 15.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,787 shares of company stock valued at $6,470,391 over the last 90 days. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $235.14 on Tuesday. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of -63.04 and a beta of 0.61. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $242.41. The business has a 50 day simple moving average of $204.08 and a 200-day simple moving average of $179.27. 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 released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm’s revenue was up 57.4% on a year-over-year basis. Equities analysts forecast that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on Axsome Therapeutics from $242.00 to $302.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Morgan Stanley increased their target price on Axsome Therapeutics from $217.00 to $242.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Mizuho upped their target price on shares of Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Jefferies Financial Group raised their target price on shares of Axsome Therapeutics from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.26.

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.