Nicholas Investment Partners LP purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 98,974 shares of the company’s stock, valued at approximately $24,226,000. Axsome Therapeutics accounts for about 1.4% of Nicholas Investment Partners LP’s holdings, making the stock its 12th largest holding.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Axsome Therapeutics during the second quarter valued at about $759,695,000. Wellington Management Group LLP grew its position in Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares in the last quarter. First Trust Advisors LP grew its position in Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock worth $97,606,000 after buying an additional 534,066 shares in the last quarter. Norges Bank bought a new position in Axsome Therapeutics during the fourth quarter valued at about $90,490,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares during the period. Institutional investors own 81.49% of the company’s stock.
Axsome Therapeutics Stock Down 1.1%
Shares of AXSM opened at $205.40 on Tuesday. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of -54.77 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.43 and a debt-to-equity ratio of 1.52. Axsome Therapeutics, Inc. has a 12 month low of $112.90 and a 12 month high of $260.19. The company has a 50-day moving average price of $231.17 and a two-hundred day moving average price of $206.29.
Insider Buying and Selling
In related news, Director Susan Mahony sold 300 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at $267,810.09. The trade was a 20.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the sale, the chief financial officer owned 42,867 shares in the company, valued at $10,291,938.03. This trade represents a 43.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 200,766 shares of company stock worth $46,685,646 over the last 90 days. Corporate insiders own 20.60% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Morgan Stanley upped their price target on Axsome Therapeutics from $242.00 to $251.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. UBS Group restated a “buy” rating on shares of Axsome Therapeutics in a research report on Monday. Wells Fargo & Company upped their target price on Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reduced their target price on Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Finally, Needham & Company LLC lifted their price target on shares of Axsome Therapeutics from $267.00 to $268.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $267.60.
Get Our Latest Research Report on Axsome Therapeutics
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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