Axsome Therapeutics Inc (NASDAQ:AXSM) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 6,175,600 shares, an increase of 8.7% from the April 30th total of 5,679,800 shares. Currently, 29.8% of the company’s stock are short sold. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is presently 4.4 days.
A number of research analysts have recently issued reports on AXSM shares. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, July 8th. Cantor Fitzgerald set a $13.00 target price on Viewray and gave the company a “buy” rating in a report on Tuesday, May 28th. HC Wainwright set a $126.00 price objective on AnaptysBio and gave the stock a “buy” rating in a report on Monday, June 24th. Leerink Swann began coverage on Axsome Therapeutics in a report on Monday, April 8th. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, BTIG Research upped their price objective on Axsome Therapeutics to $25.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.83.
Shares of NASDAQ:AXSM traded up $0.28 on Friday, hitting $26.04. The company had a trading volume of 910,234 shares, compared to its average volume of 1,223,495. The business has a 50 day moving average of $24.33. Axsome Therapeutics has a 52-week low of $1.94 and a 52-week high of $28.00. The firm has a market capitalization of $857.95 million, a P/E ratio of -22.64 and a beta of 2.65. The company has a debt-to-equity ratio of 1.08, a quick ratio of 5.68 and a current ratio of 5.68.
In other Axsome Therapeutics news, CFO Nick Pizzie bought 1,920 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average price of $20.80 per share, for a total transaction of $39,936.00. Following the completion of the purchase, the chief financial officer now directly owns 1,920 shares in the company, valued at $39,936. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark E. Saad bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $22.33 per share, with a total value of $78,155.00. Following the purchase, the director now owns 7,002 shares of the company’s stock, valued at $156,354.66. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,470 shares of company stock valued at $227,087. 27.50% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Alethea Capital Management LLC grew its stake in shares of Axsome Therapeutics by 25.5% in the first quarter. Alethea Capital Management LLC now owns 1,140,394 shares of the company’s stock valued at $16,228,000 after buying an additional 231,965 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Axsome Therapeutics in the fourth quarter valued at about $871,000. Laurion Capital Management LP acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at about $3,116,000. EAM Global Investors LLC acquired a new stake in Axsome Therapeutics during the 1st quarter valued at approximately $1,211,000. Finally, BlackRock Inc. grew its stake in Axsome Therapeutics by 14.6% during the 4th quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock valued at $181,000 after purchasing an additional 8,137 shares in the last quarter. Institutional investors own 44.22% of the company’s stock.
About Axsome Therapeutics
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
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