Bellevue Group AG Cuts Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Bellevue Group AG lessened its holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 41.7% during the second quarter, Holdings Channel.com reports. The firm owned 56,253 shares of the company’s stock after selling 40,154 shares during the quarter. Bellevue Group AG’s holdings in Axsome Therapeutics were worth $5,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in Axsome Therapeutics by 6.9% during the second quarter. Swiss National Bank now owns 65,200 shares of the company’s stock worth $6,806,000 after acquiring an additional 4,200 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Axsome Therapeutics by 55.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 203,632 shares of the company’s stock worth $21,257,000 after purchasing an additional 72,609 shares in the last quarter. Nuveen LLC acquired a new position in shares of Axsome Therapeutics during the 1st quarter worth $48,185,000. Jump Financial LLC purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at about $10,805,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Axsome Therapeutics by 154.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 4,424 shares of the company’s stock valued at $462,000 after purchasing an additional 2,686 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Axsome Therapeutics Trading Down 0.4%

Shares of AXSM opened at $148.17 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.57 and a quick ratio of 1.50. Axsome Therapeutics, Inc. has a 1-year low of $75.56 and a 1-year high of $152.94. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of -31.73 and a beta of 0.48. The firm has a 50 day simple moving average of $137.80 and a 200-day simple moving average of $120.26.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analyst estimates of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The company’s revenue was up 63.2% on a year-over-year basis. Equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Mizuho boosted their price objective on shares of Axsome Therapeutics from $200.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley boosted their price target on Axsome Therapeutics from $194.00 to $196.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada upped their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. HC Wainwright raised their price objective on Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $179.88.

Insiders Place Their Bets

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 10,558 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $148.18, for a total value of $1,564,484.44. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,071,193.22. This represents a 59.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark L. Jacobson sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $115.96, for a total transaction of $1,159,600.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 380,052 shares of company stock worth $49,325,224. Corporate insiders own 22.30% of the company’s stock.

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.