Axsome Therapeutics, Inc. $AXSM Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,817 shares of the company’s stock after selling 4,241 shares during the period. WCM Investment Management LLC owned about 0.21% of Axsome Therapeutics worth $17,305,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AXSM. Dimensional Fund Advisors LP grew its holdings in Axsome Therapeutics by 22.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 15,160 shares of the company’s stock valued at $2,562,000 after buying an additional 2,729 shares during the last quarter. AlphaCentric Advisors LLC raised its holdings in shares of Axsome Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $1,088,000 after acquiring an additional 350 shares during the last quarter. Swiss National Bank lifted its position in shares of Axsome Therapeutics by 0.3% in the first quarter. Swiss National Bank now owns 69,100 shares of the company’s stock valued at $11,679,000 after acquiring an additional 200 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at $8,600,000. Finally, Assetmark Inc. lifted its position in shares of Axsome Therapeutics by 7.2% in the first quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after acquiring an additional 79 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Stock Performance

NASDAQ AXSM opened at $230.00 on Monday. The company has a market cap of $11.84 billion, a P/E ratio of -61.66 and a beta of 0.60. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The company has a 50-day moving average of $238.35 and a 200-day moving average of $198.58.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current year.

Insider Buying and Selling

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 4,517 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $227.94, for a total transaction of $1,029,604.98. Following the completion of the sale, the chief operating officer directly owned 4,517 shares in the company, valued at $1,029,604.98. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ari Maizel sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $182.42, for a total transaction of $1,368,150.00. Following the sale, the insider owned 7,500 shares of the company’s stock, valued at approximately $1,368,150. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,352 shares of company stock worth $38,598,262 over the last 90 days. Company insiders own 20.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AXSM shares. Needham & Company LLC lifted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $280.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Axsome Therapeutics from $302.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Truist Financial upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.05.

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.