Assenagon Asset Management S.A. Acquires 397,976 Shares of Axsome Therapeutics, Inc. $AXSM

Assenagon Asset Management S.A. grew its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 85.0% in the first quarter, Holdings Channel reports. The firm owned 865,958 shares of the company’s stock after buying an additional 397,976 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Axsome Therapeutics were worth $146,364,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kemnay Advisory Services Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at $31,000. Optiver Holding B.V. lifted 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 valued at $35,000 after acquiring an additional 130 shares during the period. Ameriflex Group Inc. bought a new position in Axsome Therapeutics during the 4th quarter valued at about $37,000. Advisory Services Network LLC purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter valued at about $40,000. Finally, GAMMA Investing LLC boosted its holdings 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 acquiring an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total transaction of $70,407.48. Following the transaction, the director owned 58,653 shares of the company’s stock, valued at $14,439,195.54. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the completion of the transaction, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,686 shares of company stock worth $26,666,006 in the last 90 days. Insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Down 1.7%

NASDAQ AXSM opened at $237.92 on Thursday. The stock’s 50-day moving average price is $222.98 and its 200-day moving average price is $187.76. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a 52 week low of $96.09 and a 52 week high of $260.19. The company has a market capitalization of $12.24 billion, a P/E ratio of -63.79 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last posted 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). The company had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts predict that Axsome Therapeutics, Inc. will post -2.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXSM has been the subject of several research reports. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Monday, June 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $272.00 target price on shares of Axsome Therapeutics in a report on Monday, May 4th. TD Cowen lifted their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. Finally, UBS Group boosted their target price on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.95.

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.