PDT Partners LLC Has $355,000 Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

PDT Partners LLC decreased its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 64.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,195 shares of the company’s stock after selling 7,506 shares during the quarter. PDT Partners LLC’s holdings in Axsome Therapeutics were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Axsome Therapeutics by 21.0% in the 4th quarter. Northern Trust Corp now owns 402,500 shares of the company’s stock valued at $34,056,000 after acquiring an additional 69,918 shares during the period. Tri Locum Partners LP increased its stake in Axsome Therapeutics by 172.3% in the fourth quarter. Tri Locum Partners LP now owns 249,769 shares of the company’s stock valued at $21,133,000 after purchasing an additional 158,048 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Axsome Therapeutics in the fourth quarter worth $76,000. Seven Springs Wealth Group LLC acquired a new stake in Axsome Therapeutics in the fourth quarter worth $339,000. Finally, Voya Investment Management LLC boosted its position in shares of Axsome Therapeutics by 8.7% during the fourth quarter. Voya Investment Management LLC now owns 102,742 shares of the company’s stock worth $8,693,000 after purchasing an additional 8,259 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

AXSM has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $200.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, April 3rd. Truist Financial lifted their price objective on Axsome Therapeutics from $190.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on Axsome Therapeutics from $125.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $153.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.87.

Axsome Therapeutics Price Performance

NASDAQ:AXSM opened at $112.24 on Friday. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The company has a market cap of $5.47 billion, a P/E ratio of -18.74 and a beta of 0.88. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The stock’s 50-day simple moving average is $113.88 and its 200 day simple moving average is $103.67.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.01. The company had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. Axsome Therapeutics had a negative return on equity of 223.51% and a negative net margin of 74.47%. As a group, sell-side analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nick Pizzie sold 3,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 22.40% of the company’s stock.

Axsome Therapeutics Profile

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.