Pallas Capital Advisors LLC acquired a new position in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 40,511 shares of the company's stock, valued at approximately $9,916,000. Pallas Capital Advisors LLC owned about 0.08% of Axsome Therapeutics as of its most recent filing with the Securities & Exchange Commission.

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A number of other hedge funds and other institutional investors have also made changes to their positions in AXSM. Kemnay Advisory Services Inc. acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $31,000. Hollencrest Capital Management increased its position in Axsome Therapeutics by 400.0% during the first quarter. Hollencrest Capital Management now owns 200 shares of the company's stock worth $34,000 after buying an additional 160 shares during the period. Ameriflex Group Inc. acquired a new position in Axsome Therapeutics during the fourth quarter worth approximately $37,000. Advisory Services Network LLC purchased a new stake in Axsome Therapeutics in the third quarter valued at approximately $40,000. Finally, Farther Finance Advisors LLC lifted its stake in Axsome Therapeutics by 602.6% in the fourth quarter. Farther Finance Advisors LLC now owns 274 shares of the company's stock valued at $50,000 after buying an additional 235 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Roger Jeffs sold 286 shares of the business's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $246.18, for a total value of $70,407.48. Following the completion of the transaction, the director directly owned 58,653 shares in the company, valued at approximately $14,439,195.54. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Nick Pizzie sold 33,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $240.09, for a total value of $7,922,970.00. Following the completion of the transaction, the chief financial officer owned 42,867 shares of the company's stock, valued at $10,291,938.03. The trade was a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 200,766 shares of company stock valued at $46,685,646. Insiders own 20.60% of the company's stock.

Axsome Therapeutics Price Performance

• 5 medical stocks growing earnings by triple digits

Axsome Therapeutics stock opened at $216.27 on Tuesday. The company has a market cap of $11.33 billion, a P/E ratio of -57.67 and a beta of 0.65. Axsome Therapeutics, Inc. has a one year low of $109.40 and a one year high of $260.19. The business has a fifty day moving average of $235.16 and a two-hundred day moving average of $205.39. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.34 and a current ratio of 1.43.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.10). The company had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%. As a group, analysts predict that Axsome Therapeutics, Inc. will post -2.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

• Struggling Axsome Stock Could Bounce Back on Drug Trial Success

AXSM has been the topic of a number of recent research reports. UBS Group began coverage on shares of Axsome Therapeutics in a report on Tuesday, August 11th. They issued a "market perform" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $272.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Wells Fargo & Company increased their target price on shares of Axsome Therapeutics from $255.00 to $256.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada dropped their price target on Axsome Therapeutics from $304.00 to $297.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Finally, Zacks Research downgraded Axsome Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $267.60.

View Our Latest Research Report on Axsome Therapeutics

Axsome Therapeutics Company Profile

(Free Report)

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome's pipeline includes several late-stage and approved product candidates.

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