Emerald Investment Advisers LLC Buys New Holdings in Axsome Therapeutics, Inc. $AXSM

Emerald Investment Advisers LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 28,630 shares of the company’s stock, valued at approximately $7,008,000. Emerald Investment Advisers LLC owned 0.06% of Axsome Therapeutics at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Axsome Therapeutics by 14.9% in the 2nd quarter. GAMMA Investing LLC now owns 347 shares of the company’s stock valued at $85,000 after acquiring an additional 45 shares during the last quarter. Birchview Capital LP increased its stake in shares of Axsome Therapeutics by 1.0% in the fourth quarter. Birchview Capital LP now owns 6,061 shares of the company’s stock worth $1,107,000 after acquiring an additional 61 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Axsome Therapeutics by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,921 shares of the company’s stock worth $351,000 after purchasing an additional 65 shares during the last quarter. Xponance LLC raised its holdings in shares of Axsome Therapeutics by 2.4% during the fourth quarter. Xponance LLC now owns 3,265 shares of the company’s stock worth $596,000 after purchasing an additional 76 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Axsome Therapeutics by 7.2% during the first quarter. Assetmark Inc. now owns 1,182 shares of the company’s stock valued at $200,000 after purchasing an additional 79 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Performance

Shares of NASDAQ AXSM opened at $207.77 on Friday. The company has a market capitalization of $10.88 billion, a PE ratio of -55.41 and a beta of 0.65. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43. The company’s fifty day moving average price is $232.13 and its 200 day moving average price is $206.02. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). The firm had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. On average, research analysts predict that Axsome Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AXSM. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Piper Sandler reissued an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Robert W. Baird upped their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Oppenheimer set a $280.00 target price on Axsome Therapeutics in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

Insider Activity

In other news, CEO Herriot Tabuteau sold 4,660 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $213.95, for a total transaction of $997,007.00. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $1,546,644.55. This trade represents a 39.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director owned 58,653 shares of the company’s stock, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 200,766 shares of company stock worth $46,685,646. 20.60% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Profile

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.