Eventide Asset Management LLC Reduces Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Eventide Asset Management LLC trimmed its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 11.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 827,887 shares of the company’s stock after selling 110,827 shares during the quarter. Axsome Therapeutics accounts for approximately 1.3% of Eventide Asset Management LLC’s portfolio, making the stock its 22nd largest position. Eventide Asset Management LLC’s holdings in Axsome Therapeutics were worth $74,402,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AXSM. Russell Investments Group Ltd. grew its position in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Axsome Therapeutics by 136.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 7,370 shares of the company’s stock worth $588,000 after purchasing an additional 4,258 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Axsome Therapeutics by 46.0% in the 1st quarter. Kennedy Capital Management LLC now owns 19,483 shares of the company’s stock worth $1,555,000 after purchasing an additional 6,136 shares during the period. Comerica Bank boosted its stake in shares of Axsome Therapeutics by 7,716.4% during the 1st quarter. Comerica Bank now owns 9,067 shares of the company’s stock valued at $723,000 after purchasing an additional 8,951 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Axsome Therapeutics during the first quarter valued at about $774,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Axsome Therapeutics Price Performance

Shares of AXSM opened at $99.65 on Friday. The business’s fifty day simple moving average is $91.48 and its two-hundred day simple moving average is $85.67. Axsome Therapeutics, Inc. has a 12 month low of $64.11 and a 12 month high of $105.00. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same period last year, the firm posted ($1.32) earnings per share. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -4.66 earnings per share for the current year.

Insider Activity

In related news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This represents a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Wall Street Analyst Weigh In

AXSM has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Axsome Therapeutics in a research report on Monday, September 16th. StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Royal Bank of Canada upped their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, UBS Group lowered their price target on shares of Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $124.93.

Axsome Therapeutics Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.