Mark L. Jacobson Sells 25,000 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark L. Jacobson sold 25,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the sale, the chief operating officer now owns 5,783 shares of the company’s stock, valued at $638,674.52. This represents a 81.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Axsome Therapeutics Stock Down 1.7%

NASDAQ AXSM opened at $108.08 on Thursday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11. The firm has a 50-day simple moving average of $106.16 and a 200 day simple moving average of $106.84. Axsome Therapeutics, Inc. has a twelve month low of $70.11 and a twelve month high of $139.13. The stock has a market cap of $5.32 billion, a PE ratio of -18.04 and a beta of 0.47.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently made changes to their positions in AXSM. Strategic Financial Concepts LLC acquired a new position in Axsome Therapeutics in the fourth quarter worth about $2,599,000. Intech Investment Management LLC raised its position in Axsome Therapeutics by 46.5% in the fourth quarter. Intech Investment Management LLC now owns 16,028 shares of the company’s stock worth $1,356,000 after purchasing an additional 5,087 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Axsome Therapeutics in the fourth quarter worth about $14,771,000. Charles Schwab Investment Management Inc. raised its position in Axsome Therapeutics by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 328,034 shares of the company’s stock worth $27,755,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Axsome Therapeutics in the fourth quarter worth about $395,000. Institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXSM shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Mizuho upped their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a “buy” rating and a $200.00 price objective for the company. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Finally, William Blair restated an “outperform” rating on shares of Axsome Therapeutics in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $172.80.

Axsome Therapeutics Company 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.