Old North State Wealth Management LLC Sells 300 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Old North State Wealth Management LLC decreased its holdings in shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) by 8.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,450 shares of the company’s stock after selling 300 shares during the quarter. Old North State Wealth Management LLC’s holdings in Axsome Therapeutics were worth $310,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AXSM. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $27,000. EntryPoint Capital LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Axsome Therapeutics in the 2nd quarter valued at $47,000. Russell Investments Group Ltd. increased its position in shares of Axsome Therapeutics by 5,550.0% in the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock valued at $63,000 after buying an additional 777 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Axsome Therapeutics by 54,750.0% in the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Axsome Therapeutics Stock Down 0.2 %

AXSM opened at $88.84 on Monday. The company has a current ratio of 2.48, a quick ratio of 2.40 and a debt-to-equity ratio of 1.77. The stock has a market cap of $4.22 billion, a PE ratio of -13.65 and a beta of 1.26. The stock’s fifty day simple moving average is $90.22 and its 200 day simple moving average is $82.92. Axsome Therapeutics, Inc. has a 1-year low of $55.02 and a 1-year high of $98.40.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings data on Monday, August 5th. The company reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.06. The firm had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $84.53 million. Axsome Therapeutics had a negative return on equity of 117.46% and a negative net margin of 105.85%. As a group, research analysts expect that Axsome Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Insiders Place Their Bets

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Mark L. Jacobson sold 47,739 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.26, for a total value of $4,022,488.14. Following the transaction, the chief operating officer now owns 5,783 shares in the company, valued at approximately $487,275.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark E. Saad sold 11,016 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total value of $1,005,870.96. Following the completion of the transaction, the director now owns 10,002 shares in the company, valued at $913,282.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.40% of the company’s stock.

Analyst Ratings Changes

AXSM has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research report on Thursday, September 5th. Bank of America upgraded shares of Axsome Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $95.00 to $106.00 in a research note on Tuesday, August 6th. Royal Bank of Canada upped 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $107.00 price target on shares of Axsome Therapeutics in a report on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, September 5th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $124.64.

Axsome Therapeutics 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.