Insider Selling: Axsome Therapeutics, Inc. (NASDAQ:AXSM) General Counsel Sells 6,014 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) General Counsel Hunter R. Murdock sold 6,014 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $100.12, for a total value of $602,121.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hunter R. Murdock also recently made the following trade(s):

• On Friday, June 20th, Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock. The shares were sold at an average price of $102.47, for a total value of $768,525.00.
• On Tuesday, June 17th, Hunter R. Murdock sold 7,500 shares of Axsome Therapeutics stock. The shares were sold at an average price of $100.26, for a total value of $751,950.00.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded up $0.96 during trading hours on Monday, hitting $101.65. The company had a trading volume of 638,409 shares, compared to its average volume of 677,733. The business has a 50 day moving average of $106.72 and a 200-day moving average of $107.16. The company has a market cap of $5.01 billion, a PE ratio of -17.62 and a beta of 0.48. Axsome Therapeutics, Inc. has a 1-year low of $72.21 and a 1-year high of $139.13. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.96 and a current ratio of 2.03.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently made changes to their positions in AXSM. Caitong International Asset Management Co. Ltd purchased a new stake in Axsome Therapeutics in the 1st quarter valued at $25,000. NBC Securities Inc. acquired a new position in Axsome Therapeutics in the first quarter valued at $31,000. Quantbot Technologies LP purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $31,000. AlphaQuest LLC purchased a new stake in shares of Axsome Therapeutics in the first quarter valued at about $38,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Axsome Therapeutics during the first quarter worth about $41,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AXSM shares. Morgan Stanley raised their price objective on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Jefferies Financial Group initiated coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They issued a “buy” rating and a $200.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, May 14th. Royal Bank Of Canada lowered their target price on shares of Axsome Therapeutics from $193.00 to $186.00 and set an “outperform” rating for the company in a research note on Thursday, June 12th. Finally, Oppenheimer started coverage on Axsome Therapeutics in a report on Tuesday, June 3rd. They issued an “outperform” rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $172.33.

About Axsome Therapeutics

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.