Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $2,309,667.40 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 19,220 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $120.17, for a total transaction of $2,309,667.40. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $868,708.93. This trade represents a 72.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, October 7th, Herriot Tabuteau sold 13,390 shares of Axsome Therapeutics stock. The shares were 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 transaction of $1,518,062.16.
• On Tuesday, September 16th, Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock. The shares were 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 shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72.
• On Monday, September 15th, Herriot Tabuteau sold 15,254 shares of Axsome Therapeutics stock. The shares were sold at an average price of $117.37, for a total transaction of $1,790,361.98.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock opened at $121.71 on Friday. The firm has a market cap of $6.07 billion, a PE ratio of -24.01 and a beta of 0.52. The firm’s 50-day simple moving average is $116.84 and its 200-day simple moving average is $109.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.08. The firm had revenue of $150.04 million for the quarter, compared to analyst estimates of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. Equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXSM has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research note on Thursday, July 3rd. They set an “overweight” rating and a $190.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Axsome Therapeutics in a research note on Wednesday. Wells Fargo & Company upgraded shares of Axsome Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 3rd. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Axsome Therapeutics in a research note on Monday, August 4th. Finally, Bank of America raised their price target on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $177.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AXSM. Principal Financial Group Inc. boosted its holdings in Axsome Therapeutics by 42.8% during the first quarter. Principal Financial Group Inc. now owns 295,671 shares of the company’s stock worth $34,484,000 after buying an additional 88,606 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Axsome Therapeutics during the first quarter worth approximately $2,229,000. Trek Financial LLC bought a new stake in Axsome Therapeutics during the first quarter worth approximately $3,446,000. Edgestream Partners L.P. bought a new stake in Axsome Therapeutics during the first quarter worth approximately $8,174,000. Finally, Nuveen LLC bought a new stake in Axsome Therapeutics during the first quarter worth approximately $48,185,000. 81.49% of the stock is currently owned by institutional investors.

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.