VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.10 Million in Axsome Therapeutics, Inc. $AXSM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,500 shares of the company’s stock, valued at approximately $1,101,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. California State Teachers Retirement System raised its position in shares of Axsome Therapeutics by 27,073.3% during the second quarter. California State Teachers Retirement System now owns 11,176,933 shares of the company’s stock worth $2,735,778,000 after acquiring an additional 11,135,801 shares during the last quarter. BlackRock Inc. bought a new position in Axsome Therapeutics in the second quarter valued at about $759,695,000. Price T Rowe Associates Inc. MD increased its position in Axsome Therapeutics by 45.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock worth $275,763,000 after purchasing an additional 472,422 shares during the period. Wellington Management Group LLP increased its position in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after purchasing an additional 609,516 shares during the period. Finally, Invesco Ltd. raised its holdings in Axsome Therapeutics by 28.6% during the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock worth $232,591,000 after purchasing an additional 282,937 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,666 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total value of $11,932,256.50. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,736,767.25. The trade was a 87.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mark L. Jacobson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the transaction, the chief operating officer directly owned 10,000 shares of the company’s stock, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 109,330 shares of company stock valued at $24,557,062. 20.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXSM shares. HC Wainwright reaffirmed a “buy” rating and issued a $290.00 target price on shares of Axsome Therapeutics in a research note on Monday, August 31st. BMO Capital Markets started coverage on shares of Axsome Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $310.00 price target for the company. Needham & Company LLC increased their price objective 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. Mizuho lifted their target price on shares of Axsome Therapeutics from $306.00 to $316.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, UBS Group reissued a “buy” rating on shares of Axsome Therapeutics in a research note on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.60.

Axsome Therapeutics Price Performance

Shares of NASDAQ AXSM opened at $220.75 on Friday. The firm has a market cap of $11.56 billion, a PE ratio of -58.87 and a beta of 0.71. The company has a current ratio of 1.43, a quick ratio of 1.34 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 1-year low of $112.90 and a 1-year high of $260.19. The company has a fifty day moving average price of $220.65 and a 200 day moving average price of $208.44.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The firm had revenue of $218.38 million during the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. Research analysts predict that Axsome Therapeutics, Inc. will post -2.8 earnings per share for the current fiscal year.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. The company’s research programs address conditions with substantial unmet medical needs, including depression, migraine, narcolepsy, excessive daytime sleepiness, agitation associated with Alzheimer’s disease, and other neurological or psychiatric disorders.

Axsome’s commercial portfolio includes Auvelity, an oral medicine approved in the United States for the treatment of major depressive disorder in adults.