Sei Investments Co. Raises Stake in Axsome Therapeutics, Inc. $AXSM

Sei Investments Co. boosted its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 47.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,064 shares of the company’s stock after purchasing an additional 22,464 shares during the quarter. Sei Investments Co.’s holdings in Axsome Therapeutics were worth $11,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in shares of Axsome Therapeutics by 10.4% in the first quarter. Cetera Investment Advisers now owns 10,719 shares of the company’s stock worth $1,812,000 after buying an additional 1,013 shares in the last quarter. NewEdge Wealth LLC bought a new position in shares of Axsome Therapeutics in the first quarter valued at approximately $619,000. First Trust Advisors LP grew its stake in Axsome Therapeutics by 1,230.2% during the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after acquiring an additional 534,066 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Axsome Therapeutics by 8.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,080 shares of the company’s stock valued at $352,000 after acquiring an additional 159 shares in the last quarter. Finally, Hollencrest Capital Management increased its holdings in Axsome Therapeutics by 400.0% during the 1st quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Activity

In other news, Director Roger Jeffs sold 286 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares in the company, valued at approximately $14,439,195.54. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Coleman sold 643 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $249.00, for a total value of $160,107.00. Following the transaction, the director directly owned 30,389 shares in the company, valued at approximately $7,566,861. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 155,852 shares of company stock valued at $37,230,112. 20.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AXSM shares. Robert W. Baird increased their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. BMO Capital Markets began coverage on shares of Axsome Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $310.00 price target for the company. Wells Fargo & Company upped their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 target price on Axsome Therapeutics in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.29.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $217.99 on Friday. The company’s fifty day moving average price is $239.21 and its 200-day moving average price is $202.71. 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 firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of -58.44 and a beta of 0.60. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.45 earnings per share for the current fiscal year.

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.