ADAR1 Capital Management LLC Acquires 19,061 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

ADAR1 Capital Management LLC grew its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 3,176.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,661 shares of the company’s stock after buying an additional 19,061 shares during the period. ADAR1 Capital Management LLC’s holdings in Axsome Therapeutics were worth $1,664,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. acquired a new position in shares of Axsome Therapeutics during the 4th quarter valued at $52,000. R Squared Ltd bought a new stake in Axsome Therapeutics in the fourth quarter valued at $64,000. KBC Group NV raised its holdings in shares of Axsome Therapeutics by 40.5% during the fourth quarter. KBC Group NV now owns 1,336 shares of the company’s stock valued at $113,000 after purchasing an additional 385 shares during the period. Xponance Inc. boosted its position in shares of Axsome Therapeutics by 11.6% during the 4th quarter. Xponance Inc. now owns 2,659 shares of the company’s stock worth $225,000 after purchasing an additional 277 shares in the last quarter. Finally, Intrust Bank NA increased its position in Axsome Therapeutics by 6.9% in the 4th quarter. Intrust Bank NA now owns 2,823 shares of the company’s stock valued at $239,000 after buying an additional 183 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AXSM shares. Robert W. Baird increased their price target on Axsome Therapeutics from $132.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Mizuho raised their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Needham & Company LLC reissued a “buy” rating and set a $153.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a report on Wednesday, February 19th. Finally, Truist Financial lifted their price target on Axsome Therapeutics from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Stock Down 8.4 %

Shares of NASDAQ AXSM opened at $98.86 on Monday. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.22. The business has a 50-day moving average of $120.62 and a 200-day moving average of $101.82. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -16.50 and a beta of 0.88. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The business had revenue of $118.77 million during the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.40% of the company’s stock.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.