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

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) COO Mark L. Jacobson sold 25,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $110.44, for a total value of $2,761,000.00. Following the completion of the transaction, the chief operating officer now directly owns 5,783 shares in the company, valued at $638,674.52. This represents a 81.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Axsome Therapeutics Stock Down 1.7%

Shares of NASDAQ:AXSM traded down $1.83 during midday trading on Wednesday, reaching $108.08. 453,345 shares of the company were exchanged, compared to its average volume of 678,978. The firm has a market cap of $5.32 billion, a PE ratio of -18.04 and a beta of 0.47. Axsome Therapeutics, Inc. has a fifty-two week low of $70.11 and a fifty-two week high of $139.13. The stock has a fifty day simple moving average of $106.16 and a two-hundred day simple moving average of $106.84. 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 recently issued reports on AXSM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 price objective for the company. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up from $160.00) on shares of Axsome Therapeutics in a research report on Tuesday, May 6th. Royal Bank of Canada upped their price objective on Axsome Therapeutics from $190.00 to $193.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Jefferies Financial Group began coverage on shares of Axsome Therapeutics in a research report on Monday, April 7th. They issued a "buy" rating and a $200.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $180.00 target price on shares of Axsome Therapeutics in a research note on Tuesday. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $172.80.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in Axsome Therapeutics during the 1st quarter worth about $25,000. Quantbot Technologies LP bought a new position in shares of Axsome Therapeutics in the first quarter valued at $31,000. NBC Securities Inc. acquired a new position in Axsome Therapeutics during the first quarter worth $31,000. AlphaQuest LLC bought a new stake in Axsome Therapeutics during the first quarter worth $38,000. Finally, Neo Ivy Capital Management bought a new stake in Axsome Therapeutics during the first quarter worth $41,000. Institutional investors and hedge funds 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.