Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 45,004 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 45,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $212.01, for a total value of $9,541,298.04. Following the completion of the transaction, the chief executive officer owned 7,229 shares in the company, valued at approximately $1,532,620.29. The trade was a 86.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, August 6th, Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock. The shares were sold at an average price of $213.95, for a total value of $997,007.00.
• On Wednesday, July 1st, Herriot Tabuteau sold 49,666 shares of Axsome Therapeutics stock. The stock was sold at an average price of $240.25, for a total value of $11,932,256.50.
• On Tuesday, June 9th, Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock. The shares were sold at an average price of $241.01, for a total value of $11,970,966.70.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded up $2.61 on Friday, reaching $212.74. 1,024,411 shares of the company’s stock were exchanged, compared to its average volume of 766,407. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of -57.03 and a beta of 0.65. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. The stock has a fifty day simple moving average of $237.39 and a 200-day simple moving average of $203.90. Axsome Therapeutics, Inc. has a 52 week low of $102.67 and a 52 week high of $260.19.

Axsome Therapeutics (NASDAQ:AXSM) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, sell-side analysts predict that Axsome Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXSM. Franklin Street Advisors Inc. NC purchased a new position in shares of Axsome Therapeutics during the 4th quarter valued at about $1,826,000. Pictet Asset Management Holding SA boosted its stake in shares of 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 buying an additional 73,925 shares during the last quarter. Norges Bank acquired a new stake in Axsome Therapeutics during the fourth quarter worth about $90,490,000. Axiom Investors LLC DE raised its position in Axsome Therapeutics by 28.7% during the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company’s stock valued at $11,578,000 after acquiring an additional 14,137 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in Axsome Therapeutics by 2,553.8% in the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company’s stock valued at $8,277,000 after acquiring an additional 47,602 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $258.00 price objective on shares of Axsome Therapeutics in a research report on Monday, May 4th. Wells Fargo & Company raised their price target on Axsome Therapeutics from $225.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Zacks Research downgraded shares of Axsome Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Finally, TD Cowen lifted their target price on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $265.55.

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.