Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Atika Capital Management LLC

Atika Capital Management LLC trimmed its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 61.4% in the fourth quarter, Holdings Channel reports. The firm owned 22,000 shares of the company’s stock after selling 35,000 shares during the period. Atika Capital Management LLC’s holdings in Axsome Therapeutics were worth $1,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pitcairn Co. raised its stake in shares of Axsome Therapeutics by 3.4% in the 4th quarter. Pitcairn Co. now owns 4,562 shares of the company’s stock valued at $386,000 after acquiring an additional 148 shares during the period. Meridian Wealth Management LLC raised its position in Axsome Therapeutics by 0.7% in the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the company’s stock valued at $1,791,000 after purchasing an additional 150 shares during the period. Arizona State Retirement System lifted its stake in Axsome Therapeutics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,054 shares of the company’s stock worth $766,000 after purchasing an additional 164 shares in the last quarter. Intrust Bank NA grew its stake in shares of Axsome Therapeutics by 6.9% in the fourth 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. Finally, Xponance Inc. raised its holdings in shares of Axsome Therapeutics by 11.6% in the 4th quarter. Xponance Inc. now owns 2,659 shares of the company’s stock valued at $225,000 after buying an additional 277 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Price Performance

AXSM stock opened at $98.86 on Friday. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -16.50 and a beta of 0.88. Axsome Therapeutics, Inc. has a fifty-two week low of $64.11 and a fifty-two week high of $139.13. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. The business has a 50 day moving average price of $120.62 and a 200 day moving average price of $101.75.

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

Insiders Place Their Bets

In related news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. This represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Analysts Set New Price Targets

AXSM has been the subject of a number of research analyst reports. Leerink Partners lifted their target price on Axsome Therapeutics from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Mizuho lifted their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Bank of America increased their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley boosted their price target on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $153.00 price objective on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.64.

About Axsome Therapeutics

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.