Granite Investment Partners LLC lessened its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,299 shares of the company’s stock after selling 4,595 shares during the quarter. Axsome Therapeutics accounts for about 0.8% of Granite Investment Partners LLC’s investment portfolio, making the stock its 29th largest holding. Granite Investment Partners LLC’s holdings in Axsome Therapeutics were worth $13,572,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Axsome Therapeutics by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock worth $2,557,000 after buying an additional 1,002 shares during the period. Jones Financial Companies Lllp increased its position in shares of Axsome Therapeutics by 2,407.9% in the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after acquiring an additional 7,320 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Axsome Therapeutics by 38.7% in the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after acquiring an additional 84,151 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Axsome Therapeutics in the 1st quarter valued at $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Axsome Therapeutics by 29.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after acquiring an additional 17,250 shares in the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.
Insider Buying and Selling at Axsome Therapeutics
In related news, CEO Herriot Tabuteau sold 49,666 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roger Jeffs sold 286 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares of the company’s stock, valued at $14,439,195.54. This represents a 0.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 163,352 shares of company stock valued at $38,598,262. Company insiders own 20.60% of the company’s stock.
Axsome Therapeutics Price Performance
Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The firm had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. Axsome Therapeutics’s quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts expect that Axsome Therapeutics, Inc. will post -2.31 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently issued reports on AXSM shares. UBS Group increased their price target on Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a report on Friday, April 10th. Guggenheim boosted their price objective on Axsome Therapeutics from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and issued a $290.00 target price on shares of Axsome Therapeutics in a research report on Wednesday. Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research report on Tuesday, May 5th. Finally, Robert W. Baird increased their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.05.
View Our Latest Analysis on Axsome Therapeutics
Axsome Therapeutics Profile
Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.
Axsome’s pipeline includes several late-stage and approved product candidates.
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