Axsome Therapeutics Sees Unusually High Options Volume (NASDAQ:AXSM)

Axsome Therapeutics Inc (NASDAQ:AXSM) was the target of some unusual options trading on Monday. Stock traders acquired 2,815 call options on the company. This represents an increase of approximately 160% compared to the average daily volume of 1,082 call options.

In other Axsome Therapeutics news, Director Mark Coleman bought 650 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were purchased at an average cost of $78.50 per share, for a total transaction of $51,025.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Nick Pizzie bought 777 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were acquired at an average price of $76.64 per share, for a total transaction of $59,549.28. Following the completion of the transaction, the chief financial officer now directly owns 41,217 shares in the company, valued at $3,158,870.88. The disclosure for this purchase can be found here. Company insiders own 26.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans purchased a new stake in Axsome Therapeutics in the first quarter valued at approximately $710,000. Nuveen Asset Management LLC grew its stake in shares of Axsome Therapeutics by 79.1% in the first quarter. Nuveen Asset Management LLC now owns 181,176 shares of the company’s stock worth $10,659,000 after acquiring an additional 80,000 shares in the last quarter. Invesco Ltd. grew its stake in shares of Axsome Therapeutics by 7.7% in the first quarter. Invesco Ltd. now owns 658,222 shares of the company’s stock worth $38,723,000 after acquiring an additional 46,863 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of Axsome Therapeutics in the first quarter worth $224,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Axsome Therapeutics by 1,407.1% in the first quarter. BNP Paribas Arbitrage SA now owns 50,684 shares of the company’s stock worth $2,982,000 after acquiring an additional 47,321 shares in the last quarter. 63.71% of the stock is currently owned by institutional investors.

Shares of NASDAQ AXSM opened at $81.26 on Wednesday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -30.78 and a beta of 2.81. The company has a quick ratio of 8.30, a current ratio of 8.30 and a debt-to-equity ratio of 0.09. Axsome Therapeutics has a 52-week low of $13.64 and a 52-week high of $109.94. The business’s 50 day moving average is $75.65 and its two-hundred day moving average is $75.46.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, August 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.05. Analysts anticipate that Axsome Therapeutics will post -2.59 EPS for the current fiscal year.

Several equities research analysts recently issued reports on AXSM shares. William Blair reiterated a “buy” rating on shares of Axsome Therapeutics in a report on Friday, September 4th. HC Wainwright restated a “buy” rating and set a $210.00 target price on shares of Axsome Therapeutics in a report on Thursday, August 6th. Morgan Stanley assumed coverage on Axsome Therapeutics in a report on Thursday, September 10th. They set an “overweight” rating and a $102.00 target price on the stock. Zacks Investment Research upgraded Axsome Therapeutics from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Friday, May 29th. Finally, BidaskClub upgraded Axsome Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $134.09.

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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