Rhenman & Partners Asset Management AB Purchases 25,100 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Rhenman & Partners Asset Management AB grew its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 167.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,100 shares of the company’s stock after buying an additional 25,100 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.08% of Axsome Therapeutics worth $2,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Axsome Therapeutics by 0.5% in the 1st quarter. JPMorgan Chase & Co. now owns 176,086 shares of the company’s stock valued at $7,288,000 after acquiring an additional 843 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Axsome Therapeutics in the first quarter worth about $732,000. MetLife Investment Management LLC grew its holdings in shares of Axsome Therapeutics by 59.0% in the first quarter. MetLife Investment Management LLC now owns 17,348 shares of the company’s stock worth $718,000 after purchasing an additional 6,439 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in Axsome Therapeutics in the 1st quarter worth about $526,000. Finally, Sei Investments Co. lifted its holdings in Axsome Therapeutics by 1.3% during the 1st quarter. Sei Investments Co. now owns 146,363 shares of the company’s stock valued at $6,059,000 after buying an additional 1,909 shares in the last quarter. 76.60% of the stock is currently owned by hedge funds and other institutional investors.

Axsome Therapeutics Stock Down 0.8 %

AXSM traded down $0.49 on Tuesday, hitting $59.55. The company had a trading volume of 123,534 shares, compared to its average volume of 835,090. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -13.25 and a beta of 2.01. The stock has a fifty day moving average price of $66.78 and a 200-day moving average price of $72.73. Axsome Therapeutics, Inc. has a 12-month low of $53.71 and a 12-month high of $91.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.38 and a current ratio of 4.46.

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

Analyst Ratings Changes

A number of equities analysts have commented on AXSM shares. William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a research note on Monday, August 7th. Piper Sandler raised Axsome Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $70.00 to $90.00 in a research report on Monday, August 7th. StockNews.com started coverage on Axsome Therapeutics in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Bank of America upgraded Axsome Therapeutics from an “underperform” rating to a “neutral” rating and raised their price target for the company from $59.00 to $81.00 in a research note on Tuesday, August 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $108.00 price objective on shares of Axsome Therapeutics in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.22.

Insider Activity

In other news, Director Mark Coleman sold 11,016 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $75.19, for a total value of $828,293.04. Following the completion of the sale, the director now owns 25,097 shares of the company’s stock, valued at approximately $1,887,043.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.50% of the company’s stock.

Axsome Therapeutics 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.