Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $6,015,296.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 32,410 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $185.60, for a total transaction of $6,015,296.00. Following the completion of the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,341,702.40. This trade represents a 81.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, January 5th, Herriot Tabuteau sold 78,703 shares of Axsome Therapeutics stock. The stock was sold at an average price of $171.28, for a total transaction of $13,480,249.84.
• On Tuesday, January 6th, Herriot Tabuteau sold 29,450 shares of Axsome Therapeutics stock. The shares were sold at an average price of $172.33, for a total value of $5,075,118.50.
• On Wednesday, January 7th, Herriot Tabuteau sold 31,261 shares of Axsome Therapeutics stock. The shares were sold at an average price of $170.38, for a total transaction of $5,326,249.18.
• On Thursday, December 4th, Herriot Tabuteau sold 10,558 shares of Axsome Therapeutics stock. The shares were sold at an average price of $148.18, for a total value of $1,564,484.44.
• 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 shares were 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 stock was sold at an average price of $133.79, for a total value 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 transaction of $2,928,519.75.

Axsome Therapeutics Trading Up 0.9%

NASDAQ:AXSM traded up $1.63 during trading hours on Monday, hitting $185.88. 581,077 shares of the company were exchanged, compared to its average volume of 758,020. The company has a fifty day simple moving average of $163.29 and a 200 day simple moving average of $136.05. Axsome Therapeutics, Inc. has a one year low of $86.99 and a one year high of $191.50. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of -39.80, a price-to-earnings-growth ratio of 11.89 and a beta of 0.44. 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 (NASDAQ:AXSM) last announced its earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The business had revenue of $170.99 million for the quarter, compared to the consensus estimate of $162.96 million. The business’s revenue for the quarter was up 63.2% on a year-over-year basis. Sell-side analysts expect that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Axsome Therapeutics by 84.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after acquiring an additional 609,516 shares during the period. Norges Bank bought a new position in shares of Axsome Therapeutics during the second quarter worth $48,889,000. Invesco Ltd. grew its position in shares of Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after purchasing an additional 419,008 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Axsome Therapeutics by 831.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock valued at $46,662,000 after buying an additional 399,000 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new position in shares of Axsome Therapeutics in the second quarter valued at $38,740,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AXSM. HC Wainwright raised their target price on Axsome Therapeutics from $200.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Robert W. Baird set a $209.00 price target on Axsome Therapeutics in a report on Tuesday, January 13th. Guggenheim reissued a “buy” rating and set a $205.00 price objective on shares of Axsome Therapeutics in a report on Friday, January 2nd. Leerink Partners boosted their price target on shares of Axsome Therapeutics from $150.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Piper Sandler increased their price target on shares of Axsome Therapeutics from $148.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Nineteen investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $206.22.

About Axsome Therapeutics

Axsome Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for central nervous system (CNS) disorders. The company focuses on small-molecule drugs designed to address unmet medical needs in areas such as depression, migraine, narcolepsy and fibromyalgia. Axsome employs a precision medicine approach, leveraging pharmacologic innovation to target underlying mechanisms of disease and improve patient outcomes.

Axsome’s pipeline includes several late-stage and approved product candidates.