Strategic Financial Concepts LLC Makes New Investment in Axsome Therapeutics, Inc. (NASDAQ:AXSM)

Strategic Financial Concepts LLC acquired a new stake in Axsome Therapeutics, Inc. (NASDAQ:AXSM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 30,713 shares of the company’s stock, valued at approximately $2,599,000.

A number of other hedge funds have also recently made changes to their positions in the business. Lion Street Advisors LLC lifted its position in Axsome Therapeutics by 16.3% in the 4th quarter. Lion Street Advisors LLC now owns 9,599 shares of the company’s stock valued at $812,000 after acquiring an additional 1,344 shares in the last quarter. Calamos Advisors LLC bought a new position in shares of Axsome Therapeutics in the fourth quarter valued at approximately $1,084,000. abrdn plc boosted its position in shares of Axsome Therapeutics by 553.3% during the fourth quarter. abrdn plc now owns 72,179 shares of the company’s stock valued at $6,107,000 after buying an additional 61,131 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Axsome Therapeutics by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,276 shares of the company’s stock worth $869,000 after buying an additional 1,044 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Axsome Therapeutics in the 4th quarter valued at $64,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $131.07, for a total value of $393,210.00. Following the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AXSM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $139.00 price objective on shares of Axsome Therapeutics in a report on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, February 11th. Leerink Partners upped their price objective on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their target price on Axsome Therapeutics from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.13.

Axsome Therapeutics Stock Down 0.4 %

Shares of NASDAQ AXSM opened at $131.15 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.44 and a quick ratio of 2.37. The stock has a market capitalization of $6.36 billion, a PE ratio of -20.08 and a beta of 1.05. Axsome Therapeutics, Inc. has a one year low of $64.11 and a one year high of $134.18. The business’s fifty day moving average price is $98.47 and its 200-day moving average price is $93.68.

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.