Mark L. Jacobson Sells 25,000 Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) Stock

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.

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

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.