Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stake Boosted by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC raised its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3,176.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,661 shares of the company’s stock after purchasing an additional 19,061 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Axsome Therapeutics were worth $1,664,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. bought a new position in shares of Axsome Therapeutics during the fourth quarter valued at $52,000. R Squared Ltd acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at $64,000. KBC Group NV raised its position in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock worth $113,000 after acquiring an additional 385 shares during the last quarter. Xponance Inc. lifted its stake in shares of Axsome Therapeutics by 11.6% during the fourth quarter. Xponance Inc. now owns 2,659 shares of the company’s stock valued at $225,000 after acquiring an additional 277 shares during the period. Finally, Intrust Bank NA boosted its holdings in Axsome Therapeutics by 6.9% in the fourth quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $98.86 on Monday. The company’s 50 day moving average price is $120.62 and its two-hundred day moving average price is $101.82. The firm has a market cap of $4.82 billion, a PE ratio of -16.50 and a beta of 0.88. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics, Inc. has a 12-month low of $64.11 and a 12-month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. Equities research analysts predict that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares in the company, valued at approximately $5,529,450.09. The trade was a 6.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 22.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AXSM shares. William Blair reaffirmed an “outperform” rating on shares of Axsome Therapeutics in a research note on Tuesday, February 18th. Bank of America raised their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $153.00 target price on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, April 1st. Finally, Leerink Partners boosted their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, February 10th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.64.

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.