Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) CEO Sells 10,558 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 10,558 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $148.18, for a total transaction of $1,564,484.44. Following the sale, the chief executive officer owned 7,229 shares in the company, valued at $1,071,193.22. This represents a 59.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Herriot Tabuteau also recently made the following trade(s):

• On Tuesday, December 2nd, Herriot Tabuteau sold 49,252 shares of Axsome Therapeutics stock. The stock was sold at an average price of $144.59, for a total value of $7,121,346.68.
• On Wednesday, December 3rd, Herriot Tabuteau sold 20,163 shares of Axsome Therapeutics stock. The stock was sold at an average price of $146.94, for a total transaction of $2,962,751.22.
• On Tuesday, November 4th, Herriot Tabuteau sold 50,459 shares of Axsome Therapeutics stock. The shares were sold at an average price of $133.79, for a total transaction of $6,750,909.61.
• On Wednesday, November 5th, Herriot Tabuteau sold 21,775 shares of Axsome Therapeutics stock. The shares were sold at an average price of $134.49, for a total value of $2,928,519.75.
• On Monday, November 3rd, Herriot Tabuteau sold 91,705 shares of Axsome Therapeutics stock. The stock was sold at an average price of $132.34, for a total value of $12,136,239.70.
• On Tuesday, October 7th, Herriot Tabuteau sold 13,390 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.77, for a total transaction of $1,590,330.30.
• On Wednesday, October 8th, Herriot Tabuteau sold 12,774 shares of Axsome Therapeutics stock. The shares were sold at an average price of $118.84, for a total value of $1,518,062.16.
• On Monday, October 6th, Herriot Tabuteau sold 19,220 shares of Axsome Therapeutics stock. The shares were sold at an average price of $120.17, for a total value of $2,309,667.40.
• On Tuesday, September 16th, Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock. The stock was sold at an average price of $114.19, for a total transaction of $2,251,712.61.
• On Friday, September 12th, Herriot Tabuteau sold 27,907 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.96, for a total transaction of $3,319,816.72.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded up $0.23 during mid-day trading on Thursday, hitting $148.04. 358,671 shares of the company’s stock traded hands, compared to its average volume of 538,108. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of -31.70 and a beta of 0.48. The firm has a 50 day moving average of $134.32 and a two-hundred day moving average of $118.51. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a 12 month low of $75.56 and a 12 month high of $152.94.

Axsome Therapeutics (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). Axsome Therapeutics had a negative return on equity of 277.31% and a negative net margin of 40.90%.The company had revenue of $170.99 million for the quarter, compared to the consensus estimate of $162.96 million. The firm’s quarterly revenue was up 63.2% compared to the same quarter last year. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AXSM shares. Needham & Company LLC restated a “buy” rating and set a $154.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, November 4th. Wells Fargo & Company lowered their price target on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. Morgan Stanley upped their target price on shares of Axsome Therapeutics from $194.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. B. Riley started coverage on Axsome Therapeutics in a report on Wednesday, October 1st. They set a “buy” rating and a $179.00 price objective on the stock. Finally, HC Wainwright boosted their price target on Axsome Therapeutics from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.88.

Institutional Investors Weigh In On Axsome Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Axsome Therapeutics in the 1st quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of Axsome Therapeutics by 20,300.0% during the third quarter. Versant Capital Management Inc now owns 204 shares of the company’s stock worth $25,000 after purchasing an additional 203 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Axsome Therapeutics in the first quarter valued at $31,000. First Horizon Corp bought a new position in shares of Axsome Therapeutics in the third quarter valued at about $34,000. Finally, Optiver Holding B.V. lifted its position in Axsome Therapeutics by 82.3% during the 3rd quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock worth $35,000 after buying an additional 130 shares in the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.

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.