Wellington Management Group LLP Reduces Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Wellington Management Group LLP lowered its stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 673,157 shares of the company’s stock after selling 69,588 shares during the quarter. Wellington Management Group LLP owned 1.39% of Axsome Therapeutics worth $56,956,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AXSM. BNP Paribas Financial Markets grew its holdings in shares of Axsome Therapeutics by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 13,733 shares of the company’s stock worth $1,234,000 after acquiring an additional 5,737 shares during the period. Captrust Financial Advisors purchased a new position in Axsome Therapeutics in the third quarter worth about $514,000. Barclays PLC grew its stake in shares of Axsome Therapeutics by 279.6% during the 3rd quarter. Barclays PLC now owns 61,785 shares of the company’s stock valued at $5,552,000 after purchasing an additional 45,509 shares during the period. Geode Capital Management LLC increased its position in shares of Axsome Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock valued at $81,659,000 after purchasing an additional 23,564 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Axsome Therapeutics by 47.5% in the 3rd quarter. Franklin Resources Inc. now owns 160,534 shares of the company’s stock worth $13,713,000 after purchasing an additional 51,696 shares during the period. Institutional investors own 81.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of Axsome Therapeutics from $143.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $153.00 target price on shares of Axsome Therapeutics in a report on Tuesday, April 1st. Mizuho boosted their price target on Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Leerink Partners increased their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, William Blair reissued an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.64.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $98.86 on Friday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -16.50 and a beta of 0.88. Axsome Therapeutics, Inc. has a 1 year low of $64.11 and a 1 year high of $139.13. The stock’s 50 day simple moving average is $120.62 and its two-hundred day simple moving average is $101.75. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The company had revenue of $118.77 million for the quarter, compared to analysts’ expectations of $117.83 million. As a group, equities analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity

In other Axsome Therapeutics news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $131.07, for a total transaction of $393,210.00. Following the sale, the chief financial officer now directly owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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.