Short Interest in Axsome Therapeutics, Inc. (NASDAQ:AXSM) Drops By 7.9%

Axsome Therapeutics, Inc. (NASDAQ:AXSM) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 6,520,000 shares, a decrease of 7.9% from the November 30th total of 7,080,000 shares. Based on an average daily trading volume, of 488,200 shares, the short-interest ratio is currently 13.4 days.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded down $0.17 during trading on Wednesday, hitting $84.61. 1,088,316 shares of the company traded hands, compared to its average volume of 623,040. The company has a quick ratio of 2.37, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The business’s fifty day moving average is $92.95 and its 200-day moving average is $88.72. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -12.96 and a beta of 1.18. Axsome Therapeutics has a one year low of $64.11 and a one year high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its earnings results on Tuesday, November 12th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. The firm had revenue of $104.76 million for the quarter, compared to analyst estimates of $98.71 million. During the same period last year, the company earned ($1.32) earnings per share. As a group, equities analysts predict that Axsome Therapeutics will post -4.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada lifted their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Axsome Therapeutics in a research report on Monday. Finally, Robert W. Baird upped their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $127.07.

Institutional Trading of Axsome Therapeutics

Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Axsome Therapeutics by 20.6% in the 3rd quarter. FMR LLC now owns 1,088,087 shares of the company’s stock worth $97,786,000 after purchasing an additional 185,951 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Axsome Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 908,459 shares of the company’s stock worth $81,659,000 after buying an additional 23,564 shares during the period. Wellington Management Group LLP grew its holdings in Axsome Therapeutics by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 742,745 shares of the company’s stock worth $66,750,000 after buying an additional 8,125 shares in the last quarter. Millennium Management LLC increased its position in Axsome Therapeutics by 1.4% in the 2nd quarter. Millennium Management LLC now owns 739,819 shares of the company’s stock valued at $59,555,000 after acquiring an additional 10,401 shares during the period. Finally, Hood River Capital Management LLC raised its stake in Axsome Therapeutics by 5.4% during the 2nd quarter. Hood River Capital Management LLC now owns 549,066 shares of the company’s stock valued at $44,200,000 after acquiring an additional 28,316 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

About Axsome Therapeutics

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.