Principal Financial Group Inc. Has $305,000 Stock Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Principal Financial Group Inc. lowered its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 48.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,393 shares of the company’s stock after selling 3,161 shares during the period. Principal Financial Group Inc.’s holdings in Axsome Therapeutics were worth $305,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Axsome Therapeutics during the second quarter worth $27,000. EntryPoint Capital LLC acquired a new position in shares of Axsome Therapeutics during the first quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Axsome Therapeutics during the second quarter worth $47,000. Russell Investments Group Ltd. lifted its holdings in shares of Axsome Therapeutics by 5,550.0% during the first quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after purchasing an additional 777 shares during the period. Finally, Natixis lifted its holdings in shares of Axsome Therapeutics by 13.6% during the first quarter. Natixis now owns 1,235 shares of the company’s stock worth $99,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXSM. StockNews.com upgraded shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a report on Tuesday, November 12th. Wells Fargo & Company began coverage on shares of Axsome Therapeutics in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $140.00 target price on the stock. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $106.00 in a report on Tuesday, August 6th. Finally, Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $124.93.

Axsome Therapeutics Price Performance

AXSM stock opened at $98.68 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.37 and a current ratio of 2.44. Axsome Therapeutics, Inc. has a 52 week low of $60.28 and a 52 week high of $105.00. The firm’s fifty day moving average is $90.99 and its 200 day moving average is $85.06. The firm has a market cap of $4.78 billion, a P/E ratio of -15.11 and a beta of 1.26.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results 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 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 analyst estimates of $98.71 million. During the same quarter last year, the firm earned ($1.32) EPS. Research analysts predict that Axsome Therapeutics, Inc. will post -4.75 earnings per share for the current year.

Insider Activity at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction 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 completion of the sale, the director now owns 10,002 shares of the company’s stock, valued at $913,282.62. This represents a 52.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 22.40% of the stock is owned by insiders.

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.