Insider Selling: 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 dated Wednesday, July 1st. The stock was sold at an average price of $240.25, for a total transaction of $11,932,256.50. Following the completion of the sale, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,736,767.25. This trade represents a 87.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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 Price Performance

AXSM stock traded down $4.11 on Wednesday, hitting $240.66. 977,820 shares of the company’s stock traded hands, compared to its average volume of 1,152,105. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of -64.52 and a beta of 0.60. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $260.19. 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 stock has a fifty day moving average of $228.50 and a 200-day moving average of $191.04.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 26.59% and a negative return on equity of 267.16%. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts forecast that Axsome Therapeutics, Inc. will post -2.31 EPS for the current fiscal year.

Analysts Set New Price Targets

AXSM has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Axsome Therapeutics in a research note on Thursday, June 11th. Guggenheim boosted their price target on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 4th. HC Wainwright reiterated a “buy” rating on shares of Axsome Therapeutics in a report on Thursday, June 4th. TD Cowen increased their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.95.

Institutional Investors Weigh In On Axsome Therapeutics

Several hedge funds have recently modified their holdings of the business. Franklin Street Advisors Inc. NC acquired a new position in shares of Axsome Therapeutics during the fourth quarter valued at about $1,826,000. Pictet Asset Management Holding SA increased its position in Axsome Therapeutics by 20.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company’s stock worth $79,643,000 after purchasing an additional 73,925 shares during the period. TD Asset Management Inc boosted its stake in shares of Axsome Therapeutics by 107.7% in the 3rd quarter. TD Asset Management Inc now owns 44,192 shares of the company’s stock valued at $5,367,000 after purchasing an additional 22,914 shares during the last quarter. Norges Bank acquired a new stake in shares of Axsome Therapeutics during the 4th quarter worth approximately $90,490,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Axsome Therapeutics by 42.6% during the third quarter. JPMorgan Chase & Co. now owns 250,513 shares of the company’s stock worth $30,425,000 after buying an additional 74,885 shares during the last quarter. 81.49% of the stock is owned by institutional investors.

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.