Castleark Management LLC Acquires New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Castleark Management LLC bought a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,200 shares of the company’s stock, valued at approximately $2,570,000. Castleark Management LLC owned approximately 0.07% of Axsome Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Axsome Therapeutics in the 4th quarter worth about $170,000. DAVENPORT & Co LLC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $304,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Axsome Therapeutics by 354.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,475 shares of the company’s stock valued at $436,000 after purchasing an additional 4,271 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Axsome Therapeutics by 9.2% in the fourth quarter. WCM Investment Management LLC now owns 104,808 shares of the company’s stock valued at $8,345,000 after purchasing an additional 8,845 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth approximately $2,140,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Insider Activity

In related news, Director Mark Coleman sold 5,249 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at approximately $1,492,768.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Mark Coleman sold 5,249 shares of Axsome Therapeutics stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.21, for a total transaction of $394,777.29. Following the transaction, the director now owns 19,848 shares in the company, valued at approximately $1,492,768.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark L. Jacobson sold 7,910 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total transaction of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at $429,734.73. The disclosure for this sale can be found here. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Trading Down 1.3 %

Shares of AXSM traded down $1.13 during mid-day trading on Thursday, reaching $86.18. The company had a trading volume of 304,577 shares, compared to its average volume of 700,346. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The firm has a fifty day simple moving average of $79.02 and a 200-day simple moving average of $79.42. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of -13.68 and a beta of 1.26. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.11. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. The firm had revenue of $75.00 million for the quarter, compared to analysts’ expectations of $69.91 million. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird upped their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Citigroup decreased their price objective on Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a report on Friday, July 26th. Finally, Needham & Company LLC assumed coverage on shares of Axsome Therapeutics in a report on Monday, July 22nd. They set a “buy” rating and a $130.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.85.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.