Pitcairn Co. Has $373,000 Stock Holdings in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Pitcairn Co. trimmed its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,674 shares of the company’s stock after selling 290 shares during the quarter. Pitcairn Co.’s holdings in Axsome Therapeutics were worth $373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $26,000. Russell Investments Group Ltd. lifted its position in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after acquiring an additional 777 shares during the period. Covestor Ltd lifted its position in shares of Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after acquiring an additional 1,095 shares during the period. Janiczek Wealth Management LLC bought a new stake in shares of Axsome Therapeutics during the 1st quarter valued at $97,000. Finally, SG Americas Securities LLC bought a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $170,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Coleman sold 5,249 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total value of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Mark Coleman sold 5,249 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.21, for a total transaction of $394,777.29. Following the completion of the sale, the director now owns 19,848 shares of the company’s stock, valued at $1,492,768.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark L. Jacobson sold 7,910 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $74.31, for a total value of $587,792.10. Following the sale, the chief operating officer now directly owns 5,783 shares of the company’s stock, valued at approximately $429,734.73. The disclosure for this sale can be found here. Insiders own 22.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AXSM shares. Mizuho restated a “buy” rating and set a $106.00 price objective on shares of Axsome Therapeutics in a research report on Wednesday, June 12th. Morgan Stanley upgraded Axsome Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $115.00 in a research report on Monday, April 29th. HC Wainwright restated a “buy” rating and set a $190.00 price objective on shares of Axsome Therapeutics in a research report on Thursday, June 6th. Royal Bank of Canada restated an “outperform” rating and set a $131.00 price objective on shares of Axsome Therapeutics in a research report on Monday. Finally, Bank of America dropped their price objective on Axsome Therapeutics from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.85.

Axsome Therapeutics Price Performance

AXSM traded up $0.75 on Thursday, reaching $85.98. The stock had a trading volume of 380,774 shares, compared to its average volume of 709,988. Axsome Therapeutics, Inc. has a fifty-two week low of $55.02 and a fifty-two week high of $98.40. The firm has a 50-day moving average of $78.16 and a 200-day moving average of $79.50. The company has a current ratio of 3.20, a quick ratio of 3.09 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -13.36 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.11. The company had revenue of $75.00 million during the quarter, compared to analysts’ expectations of $69.91 million. Axsome Therapeutics had a negative return on equity of 87.17% and a negative net margin of 118.07%. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -4.66 EPS for the current year.

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.