Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 49,670 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,670 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70. Following the transaction, the chief executive officer owned 7,229 shares in the company, valued at $1,742,261.29. This represents a 87.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Axsome Therapeutics Trading Up 4.5%

Shares of AXSM stock opened at $245.64 on Wednesday. The company has a market capitalization of $12.64 billion, a P/E ratio of -65.86 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The business’s 50 day moving average is $205.86 and its two-hundred day moving average is $179.97. Axsome Therapeutics, Inc. has a twelve month low of $96.09 and a twelve month high of $246.41.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The firm’s revenue was up 57.4% compared to the same quarter last year. Equities analysts forecast that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Analyst Upgrades and Downgrades

AXSM has been the subject of several recent analyst reports. Jefferies Financial Group raised their price target on Axsome Therapeutics from $245.00 to $275.00 and gave the company a “buy” rating in a report on Monday, May 4th. Morgan Stanley boosted their price target on Axsome Therapeutics from $217.00 to $242.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Piper Sandler reissued an “overweight” rating and issued a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Mizuho boosted their price target on Axsome Therapeutics from $228.00 to $310.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.26.

Hedge Funds Weigh In On Axsome Therapeutics

A number of institutional investors have recently made changes to their positions in AXSM. Kemnay Advisory Services Inc. acquired a new position in Axsome Therapeutics in the fourth quarter valued at $31,000. Hollencrest Capital Management increased its stake in Axsome Therapeutics by 400.0% in the first quarter. Hollencrest Capital Management now owns 200 shares of the company’s stock valued at $34,000 after purchasing an additional 160 shares during the last quarter. Optiver Holding B.V. increased its stake in Axsome Therapeutics by 82.3% in the third quarter. Optiver Holding B.V. now owns 288 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Axsome Therapeutics in the fourth quarter valued at $37,000. Finally, Essex Investment Management Co. LLC acquired a new position in Axsome Therapeutics in the third quarter valued at $38,000. 81.49% of the stock is owned by institutional investors and hedge funds.

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.