Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by Alethea Capital Management LLC

Alethea Capital Management LLC lessened its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,010,945 shares of the company’s stock after selling 1,258 shares during the period. Axsome Therapeutics accounts for approximately 42.9% of Alethea Capital Management LLC’s portfolio, making the stock its biggest position. Alethea Capital Management LLC owned about 2.68% of Axsome Therapeutics worth $68,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new position in Axsome Therapeutics in the second quarter valued at approximately $37,367,000. Royal Bank of Canada grew its stake in shares of Axsome Therapeutics by 25.0% in the second quarter. Royal Bank of Canada now owns 3,538 shares of the company’s stock valued at $238,000 after buying an additional 708 shares in the last quarter. Morgan Stanley grew its stake in shares of Axsome Therapeutics by 122.8% in the second quarter. Morgan Stanley now owns 317,446 shares of the company’s stock valued at $21,414,000 after buying an additional 174,980 shares in the last quarter. Amundi acquired a new stake in shares of Axsome Therapeutics in the second quarter valued at $189,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Axsome Therapeutics during the 2nd quarter worth approximately $263,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

Several equities research analysts recently weighed in on AXSM shares. BTIG Research cut their target price on shares of Axsome Therapeutics from $123.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 10th. Zacks Investment Research raised shares of Axsome Therapeutics from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 4th. SVB Leerink reduced their price target on Axsome Therapeutics from $115.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 10th. Truist reduced their price target on Axsome Therapeutics from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Tuesday, August 10th. Finally, Mizuho reaffirmed a “buy” rating and issued a $55.00 price target on shares of Axsome Therapeutics in a research report on Monday, August 23rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $102.48.

AXSM traded down $0.35 on Wednesday, reaching $39.34. The company’s stock had a trading volume of 5,941 shares, compared to its average volume of 695,145. The stock has a 50 day moving average of $28.92 and a two-hundred day moving average of $48.21. The company has a quick ratio of 6.20, a current ratio of 6.20 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -13.10 and a beta of 2.41. Axsome Therapeutics, Inc. has a fifty-two week low of $19.38 and a fifty-two week high of $87.24.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Sunday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.02. As a group, analysts anticipate that Axsome Therapeutics, Inc. will post -3.62 earnings per share for the current fiscal year.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc engages in the development of novel therapies for the management of central nervous system disorders. Its product candidates include AXS-05, AXS-07, AXS-12, and AXS-14 which are being developed for multiple pain and primary care indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for Axsome Therapeutics (NASDAQ:AXSM)

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