Axsome Therapeutics (NASDAQ:AXSM) COO Sells $2,086,500.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark Jacobson sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $208.65, for a total value of $2,086,500.00. Following the sale, the chief operating officer directly owned 10,000 shares in the company, valued at approximately $2,086,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Axsome Therapeutics Stock Performance

NASDAQ:AXSM traded down $1.57 during trading hours on Thursday, reaching $208.35. The company had a trading volume of 558,819 shares, compared to its average volume of 661,135. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.43 and a quick ratio of 1.34. Axsome Therapeutics, Inc. has a 1-year low of $112.90 and a 1-year high of $260.19. The business’s 50 day moving average price is $224.52 and its 200-day moving average price is $207.48. The firm has a market cap of $10.91 billion, a PE ratio of -55.56 and a beta of 0.71.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.10). Axsome Therapeutics had a negative return on equity of 265.55% and a negative net margin of 24.68%.The firm had revenue of $218.38 million for the quarter, compared to analyst estimates of $221.11 million. Research analysts forecast that Axsome Therapeutics, Inc. will post -2.8 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its position in shares of Axsome Therapeutics by 27,073.3% in the second quarter. California State Teachers Retirement System now owns 11,176,933 shares of the company’s stock valued at $2,735,778,000 after acquiring an additional 11,135,801 shares in the last quarter. BlackRock Inc. acquired a new position in Axsome Therapeutics in the 2nd quarter valued at $759,695,000. Wellington Management Group LLP lifted its holdings in Axsome Therapeutics by 84.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after purchasing an additional 609,516 shares in the last quarter. First Trust Advisors LP lifted its holdings in Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after purchasing an additional 534,066 shares in the last quarter. Finally, Norges Bank acquired a new stake in Axsome Therapeutics during the 4th quarter worth $90,490,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen upped their price objective 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. Wells Fargo & Company raised their target price on Axsome Therapeutics from $255.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. HC Wainwright reiterated a “buy” rating and set a $290.00 price target on shares of Axsome Therapeutics in a research report on Monday. Finally, Truist Financial upgraded Axsome Therapeutics to a “strong-buy” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Axsome Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $267.60.

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.