Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 20,163 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 20,163 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $146.94, for a total value of $2,962,751.22. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,062,229.26. This trade represents a 73.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 transaction of $1,564,484.44.
• On Tuesday, December 2nd, Herriot Tabuteau sold 49,252 shares of Axsome Therapeutics stock. The shares were sold at an average price of $144.59, for a total value of $7,121,346.68.
• 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 transaction 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 transaction of $12,136,239.70.
• 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 value of $1,590,330.30.
• On Wednesday, October 8th, Herriot Tabuteau sold 12,774 shares of Axsome Therapeutics stock. The stock was 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 stock was 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 shares were sold at an average price of $114.19, for a total value 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 value of $3,319,816.72.

Axsome Therapeutics Stock Up 0.2%

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

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $170.99 million during the quarter, compared to the consensus estimate of $162.96 million. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. As a group, analysts expect that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on AXSM. HC Wainwright upped their price target on Axsome Therapeutics from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Axsome Therapeutics from $189.00 to $198.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. B. Riley initiated coverage on shares of Axsome Therapeutics in a research note on Wednesday, October 1st. They issued a “buy” rating and a $179.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.88.

Hedge Funds Weigh In On Axsome Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock worth $162,082,000 after buying an additional 609,516 shares in the last quarter. Norges Bank purchased a new stake in Axsome Therapeutics in the 2nd 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. Nuveen LLC bought a new stake in shares of Axsome Therapeutics in the first quarter worth about $48,185,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Axsome Therapeutics by 831.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock worth $46,662,000 after purchasing an additional 399,000 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.