China Universal Asset Management Co. Ltd. Increases Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

China Universal Asset Management Co. Ltd. lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 65.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,232 shares of the company’s stock after buying an additional 3,652 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Axsome Therapeutics were worth $830,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Axsome Therapeutics by 2.9% in the first quarter. Principal Financial Group Inc. now owns 9,773 shares of the company’s stock worth $780,000 after purchasing an additional 276 shares during the last quarter. Oak Ridge Investments LLC boosted its position in Axsome Therapeutics by 2.7% in the first quarter. Oak Ridge Investments LLC now owns 15,930 shares of the company’s stock worth $1,271,000 after purchasing an additional 413 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Axsome Therapeutics by 323.8% in the first quarter. BNP Paribas Financial Markets now owns 82,544 shares of the company’s stock worth $6,587,000 after purchasing an additional 63,067 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Axsome Therapeutics by 9.5% in the first quarter. Janney Montgomery Scott LLC now owns 5,780 shares of the company’s stock worth $461,000 after purchasing an additional 500 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Axsome Therapeutics by 20.4% in the first quarter. Mutual of America Capital Management LLC now owns 41,620 shares of the company’s stock worth $3,321,000 after purchasing an additional 7,042 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the transaction, the director now directly owns 10,002 shares in the company, valued at $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Mark L. Jacobson sold 47,739 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at approximately $487,275.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark E. Saad sold 11,016 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.40% of the stock is owned by company insiders.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock opened at $90.35 on Wednesday. Axsome Therapeutics, Inc. has a 52 week low of $55.02 and a 52 week high of $98.40. The business has a 50-day simple moving average of $90.09 and a 200 day simple moving average of $82.34. The company has a quick ratio of 2.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.77. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -14.16 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, August 5th. The company reported ($1.24) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.06. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. The business had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $84.53 million. On average, research analysts forecast that Axsome Therapeutics, Inc. will post -4.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on AXSM shares. Royal Bank of Canada boosted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research note on Thursday, September 5th. Wells Fargo & Company began coverage on Axsome Therapeutics in a research note on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. StockNews.com upgraded Axsome Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.64.

About Axsome Therapeutics

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.