Renaissance Technologies LLC reduced its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,300 shares of the company’s stock after selling 5,700 shares during the period. Renaissance Technologies LLC’s holdings in Axsome Therapeutics were worth $27,770,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AXSM. Franklin Street Advisors Inc. NC bought a new stake in Axsome Therapeutics in the 4th quarter worth $1,826,000. Pictet Asset Management Holding SA raised its position in Axsome Therapeutics by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock valued at $79,643,000 after purchasing an additional 73,925 shares during the last quarter. Norges Bank purchased a new stake in Axsome Therapeutics in the 4th quarter worth approximately $90,490,000. Axiom Investors LLC DE grew its position in shares of Axsome Therapeutics by 28.7% in the 4th quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock worth $11,578,000 after buying an additional 14,137 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Axsome Therapeutics by 2,553.8% during the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after buying an additional 47,602 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.
Axsome Therapeutics Trading Down 2.9%
NASDAQ AXSM opened at $227.42 on Thursday. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The stock’s fifty day moving average price is $239.55 and its 200-day moving average price is $202.14. The stock has a market cap of $11.70 billion, a P/E ratio of -60.97 and a beta of 0.60.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on AXSM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Friday, July 17th. Zacks Research downgraded shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Oppenheimer set a $280.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Needham & Company LLC boosted their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Robert W. Baird increased their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.48.
View Our Latest Stock Report on AXSM
Insiders Place Their Bets
In related news, CFO Nick Pizzie sold 33,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer directly owned 42,867 shares of the company’s stock, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 155,852 shares of company stock worth $37,230,112 in the last three months. Corporate insiders own 20.60% of the company’s stock.
About Axsome Therapeutics
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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