Atika Capital Management LLC Reduces Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Atika Capital Management LLC trimmed its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 61.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,000 shares of the company’s stock after selling 35,000 shares during the quarter. Atika Capital Management LLC’s holdings in Axsome Therapeutics were worth $1,861,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AXSM. JPMorgan Chase & Co. lifted its stake in Axsome Therapeutics by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,110 shares of the company’s stock valued at $19,062,000 after acquiring an additional 27,534 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Axsome Therapeutics in the fourth quarter valued at $2,599,000. Intech Investment Management LLC grew its position in Axsome Therapeutics by 46.5% during the 4th quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after purchasing an additional 5,087 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $14,771,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Axsome Therapeutics by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock valued at $27,755,000 after buying an additional 5,438 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total transaction of $393,210.00. Following the completion of the sale, the chief financial officer now directly owns 42,187 shares in the company, valued at approximately $5,529,450.09. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

AXSM opened at $98.86 on Friday. Axsome Therapeutics, Inc. has a twelve month low of $64.11 and a twelve month high of $139.13. The firm has a market capitalization of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The firm’s 50-day moving average price is $120.62 and its 200 day moving average price is $101.75.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. The business had revenue of $118.77 million during the quarter, compared to analyst estimates of $117.83 million. As a group, sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXSM. Morgan Stanley boosted their price target on Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Bank of America lifted their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Leerink Partners raised their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, Robert W. Baird upped their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and an average target price of $167.64.

About Axsome Therapeutics

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.