Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) CEO Sells 31,261 Shares of Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 31,261 shares of Axsome Therapeutics stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $170.38, for a total transaction of $5,326,249.18. Following the sale, the chief executive officer owned 7,229 shares of the company’s stock, valued at $1,231,677.02. The trade was a 81.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, January 5th, Herriot Tabuteau sold 78,703 shares of Axsome Therapeutics stock. The shares were sold at an average price of $171.28, for a total value of $13,480,249.84.
• On Tuesday, January 6th, Herriot Tabuteau sold 29,450 shares of Axsome Therapeutics stock. The stock was sold at an average price of $172.33, for a total value of $5,075,118.50.
• On Thursday, December 4th, Herriot Tabuteau sold 10,558 shares of Axsome Therapeutics stock. The stock was sold at an average price of $148.18, for a total value 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 Wednesday, December 3rd, Herriot Tabuteau sold 20,163 shares of Axsome Therapeutics stock. The stock was sold at an average price of $146.94, for a total transaction of $2,962,751.22.
• 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.

Axsome Therapeutics Stock Performance

Shares of Axsome Therapeutics stock traded down $1.19 during trading on Wednesday, hitting $170.69. 814,950 shares of the company’s stock were exchanged, compared to its average volume of 1,023,813. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of -36.55, a PEG ratio of 11.99 and a beta of 0.44. The business has a 50-day simple moving average of $148.79 and a 200-day simple moving average of $126.76. Axsome Therapeutics, Inc. has a 52-week low of $79.19 and a 52-week high of $184.40. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.50 and a current ratio of 1.57.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12). The business had revenue of $170.99 million during the quarter, compared to analysts’ expectations of $162.96 million. Axsome Therapeutics had a negative net margin of 40.90% and a negative return on equity of 277.31%. The firm’s revenue for the quarter was up 63.2% compared to the same quarter last year. On average, research analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Institutional Investors Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake 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 worth $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Norges Bank purchased a new position in Axsome Therapeutics during the second quarter worth approximately $48,889,000. Invesco Ltd. boosted its stake in Axsome Therapeutics by 73.3% during the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock worth $120,303,000 after buying an additional 419,008 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Axsome Therapeutics by 831.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company’s stock valued at $46,662,000 after buying an additional 399,000 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in Axsome Therapeutics in the 2nd quarter valued at $38,740,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXSM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Axsome Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Axsome Therapeutics from $163.00 to $157.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Axsome Therapeutics in a report on Monday. Guggenheim reiterated a “buy” rating and issued a $205.00 target price on shares of Axsome Therapeutics in a research note on Friday, January 2nd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Axsome Therapeutics in a report on Wednesday, December 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.88.

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.