Cormorant Asset Management LP Sells 25,000 Shares of Axsome Therapeutics, Inc. $AXSM

Cormorant Asset Management LP lowered its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 25.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 75,000 shares of the company’s stock after selling 25,000 shares during the period. Axsome Therapeutics comprises 0.6% of Cormorant Asset Management LP’s holdings, making the stock its 26th largest holding. Cormorant Asset Management LP owned about 0.15% of Axsome Therapeutics worth $13,698,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Axsome Therapeutics by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock worth $507,739,000 after buying an additional 235,626 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Axsome Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Axsome Therapeutics by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock worth $184,544,000 after acquiring an additional 12,549 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after purchasing an additional 419,008 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wolfe Research initiated coverage on Axsome Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price objective on the stock. UBS Group lifted their price objective 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. Robert W. Baird upped their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Morgan Stanley raised shares of Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a report on Thursday, June 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $258.00 target price on shares of Axsome Therapeutics in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $258.95.

Axsome Therapeutics Trading Up 0.1%

AXSM opened at $252.16 on Thursday. The business has a 50 day simple moving average of $215.95 and a two-hundred day simple moving average of $184.31. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $257.92. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of -67.60 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Analysts predict that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Insider Activity at Axsome Therapeutics

In related news, Director Mark Coleman sold 643 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director directly owned 30,389 shares of the company’s stock, valued at $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total transaction of $70,407.48. Following the completion of the sale, the director directly owned 58,653 shares in the company, valued at $14,439,195.54. This represents a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 113,686 shares of company stock valued at $26,666,006 over the last ninety days. Insiders own 20.60% of the company’s stock.

About Axsome Therapeutics

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.