Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 15,254 Shares

Key Points

• Axsome Therapeutics CEO Herriot Tabuteau sold a total of 62,880 shares of the company’s stock over a series of transactions, significantly reducing his ownership by 67.85%.
• Following Tabuteau's stock sales, Axsome Therapeutics experienced a 2.3% decline in stock price, reaching $114.10 amidst higher trading volume than average.
• Despite recent ownership changes, analysts maintain a positive outlook on the company's stock, with many issuing a “Buy” rating and a consensus price target of $177.86.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 15,254 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $117.37, for a total transaction of $1,790,361.98. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $848,467.73. This represents a 67.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, September 16th, Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock. The stock was sold at an average price of $114.19, for a total transaction of $2,251,712.61.
• On Friday, September 12th, Herriot Tabuteau sold 27,907 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.96, for a total transaction of $3,319,816.72.

Axsome Therapeutics Stock Down 2.3%

Shares of NASDAQ AXSM traded down $2.68 during midday trading on Tuesday, reaching $114.10. The company's stock had a trading volume of 735,504 shares, compared to its average volume of 566,627. The company has a quick ratio of 1.51, a current ratio of 1.57 and a debt-to-equity ratio of 1.66. Axsome Therapeutics, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $139.13. The business's 50 day moving average price is $112.50 and its two-hundred day moving average price is $110.52.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.08. The business had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. On average, equities analysts forecast that Axsome Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its position in Axsome Therapeutics by 4.5% in the second quarter. Moors & Cabot Inc. now owns 2,330 shares of the company's stock valued at $243,000 after buying an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Axsome Therapeutics by 1.1% in the second quarter. China Universal Asset Management Co. Ltd. now owns 9,889 shares of the company's stock valued at $1,032,000 after buying an additional 107 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in Axsome Therapeutics by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 39,623 shares of the company's stock valued at $4,621,000 after buying an additional 136 shares in the last quarter. Assetmark Inc. boosted its position in Axsome Therapeutics by 13.9% in the second quarter. Assetmark Inc. now owns 1,124 shares of the company's stock valued at $117,000 after buying an additional 137 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in Axsome Therapeutics by 4.6% in the second quarter. Profund Advisors LLC now owns 4,063 shares of the company's stock valued at $424,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company's stock.

Analysts Set New Price Targets

AXSM has been the subject of a number of analyst reports. Wells Fargo & Company raised Axsome Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 3rd. Needham & Company LLC reissued a "buy" rating and issued a $150.00 target price on shares of Axsome Therapeutics in a report on Monday, August 4th. Royal Bank Of Canada upped their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Oppenheimer began coverage on shares of Axsome Therapeutics in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $185.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat.com, Axsome Therapeutics currently has an average rating of "Buy" and a consensus target price of $177.86.

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.

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