What’s Propelling Axsome Therapeutics Inc (NASDAQ:AXSM) After Higher Shorts Reported?

March 19, 2018 - By Graig Alexander

 What’s Propelling Axsome Therapeutics Inc (NASDAQ:AXSM) After Higher Shorts Reported?

The stock of Axsome Therapeutics Inc (NASDAQ:AXSM) registered an increase of 23.6% in short interest. AXSM’s total short interest was 949,600 shares in March as published by FINRA. Its up 23.6% from 768,300 shares, reported previously. With 482,700 shares average volume, it will take short sellers 2 days to cover their AXSM’s short positions. The short interest to Axsome Therapeutics Inc’s float is 6.95%.

The stock increased 1.89% or $0.05 during the last trading session, reaching $2.7. About 324,408 shares traded. Axsome Therapeutics, Inc. (NASDAQ:AXSM) has declined 59.08% since March 19, 2017 and is downtrending. It has underperformed by 75.78% the S&P500.

Axsome Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops therapies for the management of central nervous system disorders. The company has market cap of $68.83 million. The companyÂ’s product candidates include AXS-05 that is in Phase III trial for the treatment of treatment resistant depression and AlzheimerÂ’s disease agitation; and AXS-02, which is in Phase III trial to treat complex regional pain syndrome, knee osteoarthritis related to bone marrow lesions, and chronic low back pain related to Modic changes. It currently has negative earnings. It is also developing AXS-06, a preclinical product candidate for CNS disorders, including chronic pain.

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Ratings Coverage

Among 3 analysts covering Axsome Therapeutics (NASDAQ:AXSM), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Axsome Therapeutics had 3 analyst reports since December 14, 2015 according to SRatingsIntel. Ladenburg Thalmann initiated the stock with “Buy” rating in Monday, December 14 report. The firm has “Buy” rating given on Tuesday, December 15 by Cantor Fitzgerald. Brean Capital initiated Axsome Therapeutics, Inc. (NASDAQ:AXSM) on Monday, October 3 with “Buy” rating.

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