OneDigital Investment Advisors LLC Makes New Investment in Axsome Therapeutics, Inc. $AXSM

OneDigital Investment Advisors LLC purchased a new position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,787 shares of the company’s stock, valued at approximately $1,906,000.

Several other institutional investors and hedge funds have also made changes to their positions in AXSM. Price T Rowe Associates Inc. MD boosted its stake in shares of Axsome Therapeutics by 45.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company’s stock valued at $275,763,000 after acquiring an additional 472,422 shares during the last quarter. Wellington Management Group LLP raised its stake in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares during the last quarter. Invesco Ltd. raised its stake in Axsome Therapeutics by 28.6% in the 4th quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after purchasing an additional 282,937 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Axsome Therapeutics by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after purchasing an additional 12,549 shares in the last quarter. Finally, State Street Corp lifted its holdings in Axsome Therapeutics by 5.8% in the 2nd quarter. State Street Corp now owns 958,503 shares of the company’s stock valued at $100,058,000 after purchasing an additional 52,483 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXSM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $280.00 price target on shares of Axsome Therapeutics in a report on Tuesday, May 5th. Royal Bank Of Canada reduced their price objective on shares of Axsome Therapeutics from $304.00 to $297.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Robert W. Baird raised their target price on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Zacks Research cut shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $290.00 price target on shares of Axsome Therapeutics in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.60.

Insider Activity at Axsome Therapeutics

In other news, Director Mark Coleman sold 6,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the completion of the sale, the director directly owned 35,140 shares of the company’s stock, valued at $8,092,742. The trade was a 14.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Mahony sold 300 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $237.21, for a total value of $71,163.00. Following the sale, the director owned 1,129 shares of the company’s stock, valued at approximately $267,810.09. The trade was a 20.99% 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. Insiders have sold 200,766 shares of company stock worth $46,685,646 in the last 90 days. Company insiders own 20.60% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $213.67 on Monday. The firm’s 50-day simple moving average is $235.53 and its 200-day simple moving average is $205.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. Axsome Therapeutics, Inc. has a 1-year low of $108.04 and a 1-year high of $260.19. The firm has a market cap of $11.19 billion, a P/E ratio of -56.98 and a beta of 0.65.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative net margin of 24.68% and a negative return on equity of 265.55%. The company had revenue of $218.38 million during the quarter, compared to analysts’ expectations of $221.11 million. As a group, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.7 EPS for the current 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.