FORA Capital LLC Purchases New Shares in Axsome Therapeutics, Inc. $AXSM

FORA Capital LLC purchased a new stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,633 shares of the company’s stock, valued at approximately $890,000.

A number of other hedge funds also recently bought and sold shares of AXSM. Caitong International Asset Management Co. Ltd purchased a new stake in Axsome Therapeutics during the first quarter valued at $25,000. NBC Securities Inc. purchased a new stake in Axsome Therapeutics during the first quarter valued at $31,000. Quantbot Technologies LP purchased a new stake in Axsome Therapeutics during the first quarter valued at $31,000. AlphaQuest LLC purchased a new stake in Axsome Therapeutics during the first quarter valued at $38,000. Finally, Neo Ivy Capital Management purchased a new stake in Axsome Therapeutics during the first quarter valued at $41,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other news, Director Roger Jeffs sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $120.03, for a total value of $2,400,600.00. Following the transaction, the director directly owned 130,974 shares in the company, valued at approximately $15,720,809.22. This represents a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Hunter R. Murdock sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $100.26, for a total transaction of $751,950.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,708 shares of company stock worth $9,288,812. Insiders own 22.30% of the company’s stock.

Analyst Upgrades and Downgrades

AXSM has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Oppenheimer began coverage on shares of Axsome Therapeutics in a research report on Tuesday, June 3rd. They set an “outperform” rating and a $185.00 price objective on the stock. Bank of America boosted their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Morgan Stanley began coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Axsome Therapeutics presently has an average rating of “Buy” and a consensus price target of $178.00.

Axsome Therapeutics Trading Up 0.6%

NASDAQ AXSM opened at $121.86 on Thursday. The company’s 50-day moving average price is $107.42 and its 200-day moving average price is $111.39. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.66. The stock has a market cap of $6.08 billion, a PE ratio of -24.04 and a beta of 0.51. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, August 4th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to analysts’ expectations of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. Equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

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.