Axsome Therapeutics, Inc. (NASDAQ:AXSM) Shares Acquired by Cubist Systematic Strategies LLC

Posted by on Mar 7th, 2023

Cubist Systematic Strategies LLC lifted its stake in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM – Get Rating) by 127.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,833 shares of the company’s stock after acquiring an additional 42,465 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.17% of Axsome Therapeutics worth $3,384,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AXSM. Captrust Financial Advisors increased its stake in shares of Axsome Therapeutics by 582.0% during the first quarter. Captrust Financial Advisors now owns 757 shares of the company’s stock valued at $31,000 after acquiring an additional 646 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Axsome Therapeutics by 208.3% during the second quarter. Nisa Investment Advisors LLC now owns 888 shares of the company’s stock valued at $34,000 after acquiring an additional 600 shares during the period. Quent Capital LLC acquired a new position in shares of Axsome Therapeutics during the third quarter valued at approximately $54,000. Great West Life Assurance Co. Can acquired a new position in shares of Axsome Therapeutics during the third quarter valued at approximately $69,000. Finally, Columbia Asset Management acquired a new position in shares of Axsome Therapeutics during the third quarter valued at approximately $89,000. Institutional investors and hedge funds own 59.71% of the company’s stock.

Axsome Therapeutics Stock Up 1.6 %

AXSM stock opened at $66.32 on Tuesday. Axsome Therapeutics, Inc. has a 12-month low of $20.63 and a 12-month high of $82.00. The company has a quick ratio of 2.50, a current ratio of 2.54 and a debt-to-equity ratio of 0.86. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -14.51 and a beta of 1.95. The company has a 50 day moving average of $68.12 and a two-hundred day moving average of $62.13.

Axsome Therapeutics (NASDAQ:AXSM – Get Rating) last released its earnings results on Monday, February 27th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.10). The business had revenue of $24.37 million for the quarter, compared to the consensus estimate of $21.51 million. On average, equities analysts anticipate that Axsome Therapeutics, Inc. will post -4.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AXSM shares. Mizuho lowered their price objective on shares of Axsome Therapeutics from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Wednesday, March 1st. Morgan Stanley reduced their target price on shares of Axsome Therapeutics from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, February 28th. BTIG Research raised their target price on shares of Axsome Therapeutics from $62.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, December 23rd. Bank of America restated an “underperform” rating and set a $52.00 target price on shares of Axsome Therapeutics in a report on Tuesday, February 14th. Finally, Piper Sandler started coverage on shares of Axsome Therapeutics in a report on Thursday, January 5th. They set a “neutral” rating and a $75.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.64.

Axsome Therapeutics Company Profile

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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.

See Also

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

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