TFG Asset Management GP Ltd Increases Position in Axsome Therapeutics, Inc. $AXSM

by · The Markets Daily

TFG Asset Management GP Ltd boosted its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Free Report) by 22.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,531 shares of the company’s stock after purchasing an additional 7,725 shares during the quarter. Axsome Therapeutics makes up 0.7% of TFG Asset Management GP Ltd’s holdings, making the stock its 18th largest position. TFG Asset Management GP Ltd owned about 0.08% of Axsome Therapeutics worth $4,335,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Axsome Therapeutics by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 337,246 shares of the company’s stock worth $39,333,000 after buying an additional 9,212 shares during the period. Invesco Ltd. increased its holdings in Axsome Therapeutics by 23.8% in the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company’s stock worth $99,952,000 after acquiring an additional 164,537 shares in the last quarter. Nuveen LLC acquired a new position in Axsome Therapeutics during the first quarter worth $48,185,000. Caitong International Asset Management Co. Ltd purchased a new position in Axsome Therapeutics during the first quarter valued at $25,000. Finally, Fox Run Management L.L.C. grew its position in shares of Axsome Therapeutics by 122.0% in the first quarter. Fox Run Management L.L.C. now owns 13,584 shares of the company’s stock valued at $1,584,000 after purchasing an additional 7,465 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Herriot Tabuteau sold 91,705 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $132.34, for a total value of $12,136,239.70. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $956,685.86. This represents a 92.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mark L. Jacobson sold 45,783 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $114.48, for a total value of $5,241,237.84. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 380,052 shares of company stock worth $49,325,224 over the last quarter. 22.30% of the stock is currently owned by company insiders.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $148.75 on Friday. The business’s 50 day moving average price is $137.24 and its 200 day moving average price is $119.96. The company has a market cap of $7.50 billion, a price-to-earnings ratio of -31.85 and a beta of 0.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a one year low of $75.56 and a one year high of $152.94.

Axsome Therapeutics (NASDAQ:AXSM – Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The company had revenue of $170.99 million for the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The company’s revenue was up 63.2% on a year-over-year basis. On average, research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of research reports. Mizuho raised their price target on shares of Axsome Therapeutics from $200.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. HC Wainwright increased their target price on Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $154.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. Guggenheim increased their price objective on Axsome Therapeutics from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.88.

Check Out Our Latest Stock Report on Axsome Therapeutics

Axsome Therapeutics Company Profile

(Free Report)

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.

Further Reading

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