Wellington Management Group LLP Sells 491,386 Shares of Axsome Therapeutics, Inc. $AXSM

Wellington Management Group LLP cut its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 42.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 653,920 shares of the company’s stock after selling 491,386 shares during the period. Wellington Management Group LLP’s holdings in Axsome Therapeutics were worth $160,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AXSM. Norges Bank acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $90,490,000. Axiom Investors LLC DE lifted its position in shares of Axsome Therapeutics by 28.7% during the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after acquiring an additional 14,137 shares during the period. Legato Capital Management LLC lifted its position in shares of Axsome Therapeutics by 90.6% during the 4th quarter. Legato Capital Management LLC now owns 9,627 shares of the company’s stock valued at $1,758,000 after acquiring an additional 4,576 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Axsome Therapeutics by 60.1% during the 4th quarter. BNP Paribas Financial Markets now owns 304,388 shares of the company’s stock valued at $55,593,000 after acquiring an additional 114,282 shares during the period. Finally, BlackRock Inc. bought a new position in Axsome Therapeutics during the second quarter worth $759,695,000. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 0.3%

Shares of NASDAQ AXSM opened at $198.52 on Tuesday. The stock has a market capitalization of $10.40 billion, a P/E ratio of -52.94 and a beta of 0.65. The company has a 50-day moving average price of $226.44 and a 200-day moving average price of $206.99. Axsome Therapeutics, Inc. has a 1 year low of $112.90 and a 1 year high of $260.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results 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). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The business had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. On average, equities research analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 30,389 shares in the company, valued at $7,566,861. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roger Jeffs sold 286 shares of Axsome Therapeutics stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the transaction, the director directly owned 58,653 shares in the company, valued at approximately $14,439,195.54. The trade was 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. In the last three months, insiders sold 183,229 shares of company stock worth $42,666,176. Company insiders own 20.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AXSM. Needham & Company LLC raised their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. BMO Capital Markets started coverage on shares of Axsome Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $310.00 price objective on the stock. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Friday, July 17th. Finally, Robert W. Baird increased their price target on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $267.60.

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.