China Universal Asset Management Co. Ltd. Sells 3,523 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

China Universal Asset Management Co. Ltd. lowered its position in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 38.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,580 shares of the company’s stock after selling 3,523 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Axsome Therapeutics were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Perceptive Advisors LLC grew its stake in Axsome Therapeutics by 115.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,038,019 shares of the company’s stock worth $82,616,000 after purchasing an additional 556,370 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Axsome Therapeutics by 57.4% during the 4th quarter. Point72 Asset Management L.P. now owns 837,201 shares of the company’s stock worth $66,633,000 after acquiring an additional 305,264 shares in the last quarter. First Turn Management LLC purchased a new position in Axsome Therapeutics during the 4th quarter valued at about $23,513,000. Norges Bank bought a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $15,530,000. Finally, Avidity Partners Management LP lifted its position in shares of Axsome Therapeutics by 54.8% in the 4th quarter. Avidity Partners Management LP now owns 459,400 shares of the company’s stock worth $36,564,000 after purchasing an additional 162,600 shares during the period. Institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group lowered their target price on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Robert W. Baird lifted their target price on Axsome Therapeutics from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Citigroup decreased their price target on shares of Axsome Therapeutics from $127.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Royal Bank of Canada cut their price objective on shares of Axsome Therapeutics from $131.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, Bank of America raised shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $106.00 in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating and thirteen have given a buy 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 $123.38.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $3.06 during midday trading on Tuesday, reaching $87.22. The company’s stock had a trading volume of 76,829 shares, compared to its average volume of 683,202. The company has a quick ratio of 3.09, a current ratio of 3.20 and a debt-to-equity ratio of 1.25. The stock has a fifty day moving average of $81.86 and a 200 day moving average of $79.01. Axsome Therapeutics, Inc. has a twelve month low of $55.02 and a twelve month high of $98.40. The firm has a market capitalization of $4.14 billion, a PE ratio of -14.15 and a beta of 1.26.

Insider Activity at Axsome Therapeutics

In related news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.26, for a total transaction of $4,022,488.14. Following the sale, the chief operating officer now owns 5,783 shares in the company, valued at $487,275.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 owns 5,783 shares of the company’s stock, valued at approximately $487,275.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Coleman sold 5,249 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 directly owns 19,848 shares in the company, valued at $1,492,768.08. The disclosure for this sale can be found here. Insiders sold a total of 60,898 shares of company stock worth $5,005,058 in the last three months. Company insiders own 22.40% of the company’s stock.

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.