Axsome Therapeutics, Inc. $AXSM Stock Holdings Cut by Eventide Asset Management LLC

Eventide Asset Management LLC lessened its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 725,672 shares of the company’s stock after selling 19,178 shares during the quarter. Axsome Therapeutics makes up approximately 1.3% of Eventide Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Eventide Asset Management LLC’s holdings in Axsome Therapeutics were worth $75,750,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in Axsome Therapeutics by 2.1% during the second quarter. BNP Paribas Financial Markets now owns 186,437 shares of the company’s stock valued at $19,462,000 after buying an additional 3,805 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Axsome Therapeutics in the 2nd quarter valued at about $522,000. Brevan Howard Capital Management LP bought a new position in shares of Axsome Therapeutics during the 2nd quarter valued at about $1,543,000. Bank of America Corp DE grew its stake in shares of Axsome Therapeutics by 41.1% in the 2nd quarter. Bank of America Corp DE now owns 753,429 shares of the company’s stock worth $78,650,000 after purchasing an additional 219,527 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 0.4%

Shares of NASDAQ:AXSM opened at $148.17 on Friday. The firm has a 50 day simple moving average of $137.80 and a 200 day simple moving average of $120.26. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $152.94. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The company has a market cap of $7.47 billion, a PE ratio of -31.73 and a beta of 0.48.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The firm had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. As a group, research analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $154.00 target price on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. B. Riley assumed coverage on shares of Axsome Therapeutics in a research report on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price target on the stock. HC Wainwright increased their price objective on Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Guggenheim raised their price objective on Axsome Therapeutics from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company decreased their target price on Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.88.

Insiders Place Their Bets

In other Axsome Therapeutics news, COO Mark L. Jacobson sold 45,783 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total transaction of $5,241,237.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Herriot Tabuteau sold 91,705 shares of Axsome Therapeutics stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $132.34, for a total value of $12,136,239.70. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $956,685.86. This trade represents a 92.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 380,052 shares of company stock worth $49,325,224 in the last quarter. 22.30% of the stock is currently owned by corporate insiders.

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.