Citigroup Inc. Lowers Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Citigroup Inc. cut its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,598 shares of the company’s stock after selling 7,807 shares during the period. Citigroup Inc.’s holdings in Axsome Therapeutics were worth $3,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. PFM Health Sciences LP grew its position in Axsome Therapeutics by 22.0% in the 3rd quarter. PFM Health Sciences LP now owns 1,659,733 shares of the company’s stock valued at $74,057,000 after buying an additional 299,137 shares during the last quarter. Brinker Capital Investments LLC purchased a new position in Axsome Therapeutics in the 3rd quarter valued at $267,000. Creative Planning purchased a new stake in shares of Axsome Therapeutics during the 3rd quarter worth $411,000. Legato Capital Management LLC acquired a new position in shares of Axsome Therapeutics during the 4th quarter worth $542,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Axsome Therapeutics by 1,928.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 26,291 shares of the company’s stock worth $1,173,000 after buying an additional 24,995 shares during the last quarter. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Down 1.4 %

Shares of AXSM stock opened at $74.62 on Tuesday. The stock has a 50-day simple moving average of $68.46 and a 200 day simple moving average of $67.87. Axsome Therapeutics, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $82.85. The stock has a market capitalization of $3.25 billion, a P/E ratio of -19.64 and a beta of 1.90. The company has a quick ratio of 2.95, a current ratio of 3.02 and a debt-to-equity ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last announced its earnings results on Monday, May 8th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.91. Axsome Therapeutics had a negative return on equity of 152.04% and a negative net margin of 109.75%. The business had revenue of $94.58 million during the quarter, compared to analysts’ expectations of $26.87 million. On average, sell-side analysts expect that Axsome Therapeutics, Inc. will post -3.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXSM has been the subject of several research reports. Bank of America reaffirmed an “underperform” rating and set a $52.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, February 14th. Guggenheim boosted their target price on shares of Axsome Therapeutics from $90.00 to $100.00 in a research note on Tuesday, May 9th. Mizuho boosted their target price on shares of Axsome Therapeutics from $84.00 to $95.00 in a research note on Thursday, May 11th. HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Axsome Therapeutics in a research note on Monday, April 17th. Finally, StockNews.com raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.57.

Axsome Therapeutics Company Profile

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Axsome Therapeutics, Inc is a commercial-stage biopharmaceutical company, which engages in the development of novel therapies for the management of central nervous system disorders. Its portfolio consists of Products Overview and Pipeline Overview. The Products Overview includes Auvelity and Sunosi. The Pipeline Overview contain AXS-05, AXS-07, AXS-12, and AXS-14.