Axsome Therapeutics (AXSM) Stock Price Up 0.2% on Insider Buying Activity
Shares of Axsome Therapeutics Inc (NASDAQ:AXSM) rose 0.2% on Thursday after an insider bought additional shares in the company. The stock traded as high as $23.27 and last traded at $23.05. Approximately 63,564 shares were traded during trading, a decline of 97% from the average daily volume of 2,092,014 shares. The stock had previously closed at $23.00.
Specifically, Director Mark Coleman bought 4,650 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $21.44 per share, with a total value of $99,696.00. Following the transaction, the director now directly owns 652,648 shares of the company’s stock, valued at approximately $13,992,773.12. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Nick Pizzie bought 5,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was bought at an average cost of $12.58 per share, for a total transaction of $67,932.00. Following the completion of the transaction, the chief financial officer now directly owns 36,340 shares in the company, valued at $457,157.20. The disclosure for this purchase can be found here. Insiders bought a total of 15,150 shares of company stock worth $229,746 over the last 90 days. Company insiders own 27.50% of the company’s stock.
AXSM has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Axsome Therapeutics in a research report on Thursday, January 31st. Zacks Investment Research raised shares of Axsome Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. BidaskClub downgraded shares of Axsome Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, March 3rd. Finally, Cantor Fitzgerald raised their price objective on shares of Axsome Therapeutics from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.00.
Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Thursday, May 9th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.01). On average, research analysts forecast that Axsome Therapeutics Inc will post -1.2 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in AXSM. Barclays PLC acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth $30,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Axsome Therapeutics by 113.7% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,400 shares of the company’s stock worth $48,000 after acquiring an additional 1,809 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Axsome Therapeutics in the 1st quarter worth $64,000. Bank of New York Mellon Corp acquired a new stake in shares of Axsome Therapeutics in the 4th quarter worth $98,000. Finally, BlackRock Inc. lifted its stake in shares of Axsome Therapeutics by 14.6% in the 4th quarter. BlackRock Inc. now owns 64,049 shares of the company’s stock worth $181,000 after acquiring an additional 8,137 shares during the period. Institutional investors own 12.34% of the company’s stock.
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About Axsome Therapeutics (NASDAQ:AXSM)
Axsome Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in developing novel therapies for central nervous system (CNS) disorders in the United States. Its product pipeline includes AXS-05, which is in the Phase III clinical trial for the treatment resistant depression; Phase II/III clinical trials in agitation associated with Alzheimer's disease; and Phase II clinical trial for the treatment of smoking cessation, as well as for major depressive disorder.
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