Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) COO Mark L. Jacobson sold 25,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.44, for a total transaction of $2,761,000.00. Following the completion of the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $638,674.52. The trade was a 81.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Axsome Therapeutics Stock Down 2.0%
Shares of NASDAQ AXSM traded down $2.15 during midday trading on Friday, hitting $104.10. The stock had a trading volume of 425,883 shares, compared to its average volume of 676,588. The business's 50 day moving average is $106.45 and its 200-day moving average is $106.95. The company has a market cap of $5.13 billion, a P/E ratio of -17.38 and a beta of 0.47. Axsome Therapeutics, Inc. has a 52 week low of $71.15 and a 52 week high of $139.13. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 target price (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Oppenheimer assumed coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $185.00 target price on the stock. Truist Financial lifted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Morgan Stanley lifted their target price on shares of Axsome Therapeutics from $125.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Finally, Mizuho lifted their target price on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $172.33.
Get Our Latest Research Report on AXSM
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in AXSM. Strategic Financial Concepts LLC bought a new position in shares of Axsome Therapeutics in the fourth quarter worth approximately $2,599,000. Principal Financial Group Inc. lifted its position in Axsome Therapeutics by 6,002.7% during the fourth quarter. Principal Financial Group Inc. now owns 207,065 shares of the company's stock valued at $17,520,000 after purchasing an additional 203,672 shares during the period. Peregrine Capital Management LLC lifted its position in Axsome Therapeutics by 21.2% during the fourth quarter. Peregrine Capital Management LLC now owns 87,187 shares of the company's stock valued at $7,377,000 after purchasing an additional 15,258 shares during the period. New York State Common Retirement Fund lifted its position in Axsome Therapeutics by 64.8% during the fourth quarter. New York State Common Retirement Fund now owns 22,491 shares of the company's stock valued at $1,903,000 after purchasing an additional 8,843 shares during the period. Finally, IFP Advisors Inc lifted its position in Axsome Therapeutics by 36.2% during the fourth quarter. IFP Advisors Inc now owns 67,839 shares of the company's stock valued at $5,740,000 after purchasing an additional 18,038 shares during the period. Institutional investors own 81.49% of the company's stock.
About Axsome Therapeutics
(
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Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.
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