Rhenman & Partners Asset Management AB Sells 58,000 Shares of Axsome Therapeutics, Inc. $AXSM

Rhenman & Partners Asset Management AB reduced its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 33.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,800 shares of the company’s stock after selling 58,000 shares during the quarter. Axsome Therapeutics comprises about 2.0% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 14th biggest position. Rhenman & Partners Asset Management AB’s holdings in Axsome Therapeutics were worth $20,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Axsome Therapeutics by 65.4% during the fourth quarter. GAMMA Investing LLC now owns 268 shares of the company’s stock worth $49,000 after acquiring an additional 106 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Axsome Therapeutics by 602.6% during the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company’s stock worth $50,000 after acquiring an additional 235 shares during the last quarter. Optiver Holding B.V. increased its stake in Axsome Therapeutics by 82.3% during the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after acquiring an additional 130 shares during the last quarter. Advisory Services Network LLC bought a new stake in Axsome Therapeutics during the third quarter worth approximately $40,000. Finally, Global Retirement Partners LLC increased its stake in Axsome Therapeutics by 405.9% during the fourth quarter. Global Retirement Partners LLC now owns 430 shares of the company’s stock worth $79,000 after acquiring an additional 345 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Axsome Therapeutics

In other Axsome Therapeutics news, CEO Herriot Tabuteau sold 49,670 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,742,261.29. The trade was a 87.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ari Maizel sold 7,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 7,500 shares of the company’s stock, valued at $1,368,150. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 113,686 shares of company stock valued at $26,666,006. 20.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AXSM. Morgan Stanley raised Axsome Therapeutics from a “reduce” rating to an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $280.00 price objective on Axsome Therapeutics in a research note on Tuesday, May 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research note on Monday, May 4th. Needham & Company LLC boosted their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Wolfe Research began coverage on Axsome Therapeutics in a research note on Monday, February 23rd. They set an “outperform” rating and a $230.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.79.

Axsome Therapeutics Stock Up 0.6%

Shares of NASDAQ:AXSM opened at $255.17 on Friday. Axsome Therapeutics, Inc. has a 1 year low of $96.09 and a 1 year high of $257.92. The business has a 50 day simple moving average of $210.94 and a two-hundred day simple moving average of $181.95. The firm has a market capitalization of $13.13 billion, a PE ratio of -68.41 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. The business’s revenue was up 57.4% compared to the same quarter last year. On average, equities analysts predict that Axsome Therapeutics, Inc. will post -2.27 EPS 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.