Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $11,932,256.50 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,666 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,736,767.25. The trade was a 87.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, June 9th, Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM opened at $244.31 on Friday. The company has a 50-day moving average price of $230.88 and a 200-day moving average price of $192.09. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of -65.50 and a beta of 0.60. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). The company had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.Axsome Therapeutics’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts predict that Axsome Therapeutics, Inc. will post -2.31 EPS for the current year.

Institutional Trading of Axsome Therapeutics

A number of large investors have recently made changes to their positions in AXSM. Seven Fleet Capital Management LP raised its holdings in shares of Axsome Therapeutics by 8.5% during the first quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock valued at $2,376,000 after purchasing an additional 1,100 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in Axsome Therapeutics by 0.7% in the first quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after purchasing an additional 1,050 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Axsome Therapeutics by 26.1% in the first quarter. Janus Henderson Group PLC now owns 19,052 shares of the company’s stock worth $3,219,000 after purchasing an additional 3,948 shares during the last quarter. Amundi purchased a new stake in Axsome Therapeutics in the first quarter worth approximately $498,000. Finally, EverSource Wealth Advisors LLC grew its position in Axsome Therapeutics by 48.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock worth $87,000 after purchasing an additional 166 shares during the period. 81.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXSM has been the subject of several recent research reports. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft set a $280.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, May 5th. Needham & Company LLC increased their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Piper Sandler reissued an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a research report on Monday, May 4th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.95.

Axsome Therapeutics Company Profile

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.