Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Sold by First Turn Management LLC

First Turn Management LLC lowered its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 24.3% in the third quarter, HoldingsChannel reports. The fund owned 255,294 shares of the company’s stock after selling 81,952 shares during the period. Axsome Therapeutics makes up 3.6% of First Turn Management LLC’s portfolio, making the stock its 6th largest position. First Turn Management LLC’s holdings in Axsome Therapeutics were worth $22,943,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Axsome Therapeutics in the second quarter valued at about $27,000. EntryPoint Capital LLC purchased a new position in shares of Axsome Therapeutics in the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Russell Investments Group Ltd. increased its position in Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock worth $88,000 after buying an additional 1,095 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXSM. Wells Fargo & Company started coverage on Axsome Therapeutics in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 price objective on the stock. StockNews.com cut Axsome Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $107.00 target price on shares of Axsome Therapeutics in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.93.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the sale, the director now directly owns 10,002 shares of the company’s stock, valued at approximately $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.40% of the stock is currently owned by insiders.

Axsome Therapeutics Price Performance

Shares of Axsome Therapeutics stock opened at $92.45 on Tuesday. The firm has a fifty day moving average price of $90.66 and a two-hundred day moving average price of $84.41. The company has a market cap of $4.48 billion, a PE ratio of -14.45 and a beta of 1.26. Axsome Therapeutics, Inc. has a fifty-two week low of $58.61 and a fifty-two week high of $105.00. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.40.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $98.71 million. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. During the same quarter in the previous year, the company earned ($1.32) earnings per share. Analysts expect that Axsome Therapeutics, Inc. will post -4.75 EPS for the current year.

Axsome Therapeutics Company 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.