Legato Capital Management LLC Raises Stock Holdings in Axsome Therapeutics, Inc. $AXSM

Legato Capital Management LLC grew its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 90.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,627 shares of the company’s stock after acquiring an additional 4,576 shares during the quarter. Legato Capital Management LLC’s holdings in Axsome Therapeutics were worth $1,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after acquiring an additional 235,626 shares in the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in shares of Axsome Therapeutics in the fourth quarter valued at $1,826,000. Aberdeen Group plc lifted its position in shares of Axsome Therapeutics by 15.5% in the third quarter. Aberdeen Group plc now owns 94,648 shares of the company’s stock valued at $11,495,000 after acquiring an additional 12,732 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Axsome Therapeutics by 107.7% in the third quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock valued at $5,367,000 after acquiring an additional 22,914 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Axsome Therapeutics by 20.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock valued at $79,643,000 after acquiring an additional 73,925 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXSM. Cantor Fitzgerald reiterated an “overweight” rating and set a $272.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Wolfe Research began coverage on Axsome Therapeutics in a research report on Monday, February 23rd. They set an “outperform” rating and a $230.00 target price on the stock. Jefferies Financial Group increased their target price on Axsome Therapeutics from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Piper Sandler reiterated an “overweight” rating and set a $258.00 target price on shares of Axsome Therapeutics in a research report on Monday, May 4th. Finally, Robert W. Baird increased their target price on Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $251.26.

Insider Activity

In related news, COO Mark L. Jacobson sold 233 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $228.18, for a total value of $53,165.94. Following the completion of the transaction, the chief operating officer owned 4,517 shares of the company’s stock, valued at approximately $1,030,689.06. This represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ari Maizel sold 7,500 shares of the stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $182.42, for a total value of $1,368,150.00. Following the completion of the transaction, the insider directly owned 7,500 shares of the company’s stock, valued at $1,368,150. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 72,628 shares of company stock worth $12,205,662. 20.60% of the stock is currently owned by corporate insiders.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $235.97 on Friday. The firm has a market capitalization of $12.14 billion, a PE ratio of -63.26 and a beta of 0.59. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The business has a 50-day moving average of $187.84 and a two-hundred day moving average of $171.84. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $236.84.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The business’s revenue was up 57.4% compared to the same quarter last year. As a group, research analysts forecast that Axsome Therapeutics, Inc. will post -2.14 earnings per share for the current year.

About Axsome Therapeutics

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.