Eventide Asset Management LLC Has $74.40 Million Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Eventide Asset Management LLC reduced its position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 827,887 shares of the company’s stock after selling 110,827 shares during the quarter. Axsome Therapeutics comprises about 1.3% of Eventide Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Eventide Asset Management LLC owned approximately 1.74% of Axsome Therapeutics worth $74,402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AXSM. FMR LLC raised its position in shares of Axsome Therapeutics by 20.6% during the third quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares during the period. Millennium Management LLC increased its stake in Axsome Therapeutics by 1.4% during the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after purchasing an additional 10,401 shares in the last quarter. Hood River Capital Management LLC increased its stake in Axsome Therapeutics by 5.4% during the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after purchasing an additional 28,316 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Axsome Therapeutics by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 322,596 shares of the company’s stock worth $28,992,000 after buying an additional 12,778 shares during the last quarter. Finally, Sofinnova Investments Inc. bought a new position in shares of Axsome Therapeutics in the second quarter valued at $24,971,000. Institutional investors own 81.49% of the company’s stock.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 10,002 shares of the company’s stock, valued at $913,282.62. This trade represents a 52.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.40% of the company’s stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $99.65 on Friday. Axsome Therapeutics, Inc. has a 52 week low of $64.11 and a 52 week high of $105.00. The firm’s 50-day simple moving average is $91.48 and its two-hundred day simple moving average is $85.67. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. 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 report on Friday, October 4th. HC Wainwright restated a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Finally, StockNews.com raised Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $124.93.

Axsome Therapeutics Company 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.