Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 49,670 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CEO Herriot Tabuteau sold 49,670 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $241.01, for a total transaction of $11,970,966.70. Following the sale, the chief executive officer directly owned 7,229 shares of the company’s stock, valued at approximately $1,742,261.29. This represents a 87.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM traded up $10.50 during trading on Tuesday, reaching $245.64. 917,980 shares of the company’s stock traded hands, compared to its average volume of 698,516. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.39 and a quick ratio of 1.32. Axsome Therapeutics, Inc. has a 12 month low of $96.09 and a 12 month high of $246.41. The company has a 50 day moving average of $204.08 and a 200-day moving average of $179.27. The stock has a market capitalization of $12.64 billion, a P/E ratio of -65.86 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The firm had revenue of $191.20 million during the quarter, compared to the consensus estimate of $191.10 million. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities analysts expect that Axsome Therapeutics, Inc. will post -2.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wolfe Research started coverage on shares of Axsome Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $230.00 price target for the company. UBS Group upped their price target on shares of Axsome Therapeutics from $251.00 to $259.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Royal Bank Of Canada upped their price objective on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $280.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $251.26.

Institutional Trading of Axsome Therapeutics

Several large investors have recently modified their holdings of the company. Seven Fleet Capital Management LP boosted its holdings in shares of Axsome Therapeutics by 8.5% during the 1st quarter. Seven Fleet Capital Management LP now owns 14,055 shares of the company’s stock worth $2,376,000 after buying an additional 1,100 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 0.7% during the 1st quarter. Perceptive Advisors LLC now owns 149,950 shares of the company’s stock worth $25,345,000 after buying an additional 1,050 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Axsome Therapeutics by 26.1% during the 1st quarter. Janus Henderson Group PLC now owns 19,052 shares of the company’s stock worth $3,219,000 after buying an additional 3,948 shares during the period. Amundi bought a new stake in shares of Axsome Therapeutics during the 1st quarter worth $498,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Axsome Therapeutics by 48.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 512 shares of the company’s stock worth $87,000 after buying an additional 166 shares during the period. 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.