Monashee Investment Management LLC Buys New Shares in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Monashee Investment Management LLC acquired a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 75,000 shares of the company’s stock, valued at approximately $5,390,000. Axsome Therapeutics accounts for approximately 1.3% of Monashee Investment Management LLC’s holdings, making the stock its 15th biggest holding. Monashee Investment Management LLC owned about 0.17% of Axsome Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. ProShare Advisors LLC increased its stake in Axsome Therapeutics by 4.6% in the 2nd quarter. ProShare Advisors LLC now owns 7,098 shares of the company’s stock worth $510,000 after buying an additional 309 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in Axsome Therapeutics during the 2nd quarter valued at approximately $372,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Axsome Therapeutics by 2.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,245 shares of the company’s stock valued at $1,096,000 after buying an additional 329 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Axsome Therapeutics by 117,038.1% in the second quarter. Russell Investments Group Ltd. now owns 24,599 shares of the company’s stock worth $1,768,000 after buying an additional 24,578 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Axsome Therapeutics by 3.1% during the second quarter. US Bancorp DE now owns 139,732 shares of the company’s stock worth $10,041,000 after acquiring an additional 4,241 shares during the last quarter. 76.60% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Trading Down 0.7 %

Shares of NASDAQ:AXSM traded down $0.40 during trading hours on Monday, hitting $59.48. 144,070 shares of the company’s stock traded hands, compared to its average volume of 836,583. The firm has a market capitalization of $2.81 billion, a P/E ratio of -13.22 and a beta of 2.01. The business has a fifty day moving average price of $67.19 and a 200-day moving average price of $72.81. Axsome Therapeutics, Inc. has a 1 year low of $53.71 and a 1 year high of $91.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.46 and a quick ratio of 4.38.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, November 6th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.08). The business had revenue of $57.79 million during the quarter, compared to analysts’ expectations of $54.88 million. Axsome Therapeutics had a negative return on equity of 88.79% and a negative net margin of 90.33%. During the same quarter in the previous year, the business earned ($1.03) EPS. Equities analysts expect that Axsome Therapeutics, Inc. will post -4.06 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 11,016 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $75.19, for a total transaction of $828,293.04. Following the transaction, the director now directly owns 25,097 shares of the company’s stock, valued at $1,887,043.43. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 24.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho reissued a “buy” rating and set a $100.00 price objective on shares of Axsome Therapeutics in a report on Monday, September 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $108.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, November 7th. William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Monday, August 7th. StockNews.com initiated coverage on shares of Axsome Therapeutics in a research note on Thursday, October 5th. They set a “sell” rating on the stock. Finally, HC Wainwright dropped their price objective on shares of Axsome Therapeutics from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.22.

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.