Axsome Therapeutics, Inc. $AXSM Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 31.1% during the third quarter, HoldingsChannel reports. The firm owned 88,558 shares of the company’s stock after selling 39,968 shares during the quarter. Granite Investment Partners LLC’s holdings in Axsome Therapeutics were worth $10,755,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXSM. Versant Capital Management Inc grew its stake in shares of Axsome Therapeutics by 20,300.0% during the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after purchasing an additional 203 shares in the last quarter. First Horizon Corp purchased a new stake in Axsome Therapeutics during the 3rd quarter worth about $34,000. Essex Investment Management Co. LLC acquired a new position in shares of Axsome Therapeutics during the 3rd quarter worth about $38,000. UMB Bank n.a. boosted its position in shares of Axsome Therapeutics by 214.4% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the company’s stock worth $45,000 after acquiring an additional 253 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Axsome Therapeutics in the 3rd quarter valued at about $60,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Axsome Therapeutics news, insider Ari Maizel sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $184.44, for a total transaction of $1,383,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Herriot Tabuteau sold 78,703 shares of Axsome Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $171.28, for a total value of $13,480,249.84. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,238,183.12. This trade represents a 91.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 308,874 shares of company stock worth $51,390,805. Insiders own 22.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird set a $209.00 target price on Axsome Therapeutics in a research note on Tuesday, January 13th. Wells Fargo & Company raised their price objective on shares of Axsome Therapeutics from $157.00 to $193.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Piper Sandler upped their target price on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Axsome Therapeutics in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group boosted their price target on shares of Axsome Therapeutics from $200.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.07.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $183.72 on Monday. The company has a 50-day simple moving average of $173.88 and a 200-day simple moving average of $144.44. Axsome Therapeutics, Inc. has a one year low of $86.99 and a one year high of $191.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -39.34, a PEG ratio of 13.22 and a beta of 0.40.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.