MetLife Investment Management LLC Lowers Position in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Posted by on Mar 2nd, 2023

MetLife Investment Management LLC decreased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,342 shares of the company’s stock after selling 1,006 shares during the quarter. MetLife Investment Management LLC’s holdings in Axsome Therapeutics were worth $729,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in Axsome Therapeutics by 549.0% during the second quarter. Goldman Sachs Group Inc. now owns 377,337 shares of the company’s stock valued at $14,452,000 after acquiring an additional 319,200 shares during the last quarter. Pictet Asset Management SA lifted its stake in Axsome Therapeutics by 94.6% in the second quarter. Pictet Asset Management SA now owns 353,521 shares of the company’s stock worth $13,540,000 after acquiring an additional 171,849 shares during the period. State Street Corp lifted its stake in Axsome Therapeutics by 22.0% in the second quarter. State Street Corp now owns 852,983 shares of the company’s stock worth $32,669,000 after acquiring an additional 153,977 shares during the period. FMR LLC lifted its stake in Axsome Therapeutics by 91.8% in the second quarter. FMR LLC now owns 235,991 shares of the company’s stock worth $9,039,000 after acquiring an additional 112,971 shares during the period. Finally, Moody Aldrich Partners LLC lifted its stake in Axsome Therapeutics by 187.4% in the third quarter. Moody Aldrich Partners LLC now owns 122,261 shares of the company’s stock worth $5,455,000 after acquiring an additional 79,721 shares during the period. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. SVB Leerink upped their price objective on shares of Axsome Therapeutics from $65.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 29th. Cantor Fitzgerald increased their price target on shares of Axsome Therapeutics from $88.00 to $96.00 in a research report on Tuesday, November 8th. BTIG Research increased their price target on shares of Axsome Therapeutics from $62.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 23rd. Mizuho decreased their price target on shares of Axsome Therapeutics from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $210.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, February 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.64.

Axsome Therapeutics Price Performance

Shares of NASDAQ:AXSM opened at $66.89 on Thursday. Axsome Therapeutics, Inc. has a twelve month low of $20.63 and a twelve month high of $82.00. The company’s 50 day moving average is $68.63 and its 200 day moving average is $61.55. The company has a current ratio of 4.19, a quick ratio of 4.15 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.91 billion, a PE ratio of -14.64 and a beta of 1.95.

About Axsome Therapeutics

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Axsome Therapeutics, Inc engages in the development of novel therapies for the management of central nervous system disorders. Its product candidates include AXS-05, AXS-07, AXS-12, and AXS-14 which are being developed for multiple pain and primary care indications. The company was founded by Herriot Tabuteau on January 12, 2012 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Axsome Therapeutics (NASDAQ:AXSM)

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