Axsome Therapeutics (NASDAQ:AXSM) CEO Herriot Tabuteau Sells 4,660 Shares

Key Points

• CEO Herriot Tabuteau sold 4,660 Axsome Therapeutics shares at an average price of $213.95, generating approximately $997,007 and reducing his direct stake by 39.2% to 7,229 shares. The sale follows several larger insider transactions totaling more than $33 million since June.
• Axsome shares rose 1.2% to $212.74, giving the company a market capitalization of roughly $10.95 billion. The stock remains unprofitable, with quarterly revenue up 57.4% year over year but earnings per share below analyst expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $265.55 price target, despite two sell ratings. Institutional investors and hedge funds own approximately 81.49% of the company.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 4,660 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $213.95, for a total transaction of $997,007.00. Following the transaction, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,546,644.55. The trade was a 39.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, August 5th, Herriot Tabuteau sold 45,004 shares of Axsome Therapeutics stock. The shares were sold at an average price of $212.01, for a total transaction of $9,541,298.04.
• On Wednesday, July 1st, Herriot Tabuteau sold 49,666 shares of Axsome Therapeutics stock. The shares were sold at an average price of $240.25, for a total transaction of $11,932,256.50.
• On Tuesday, June 9th, Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock. The stock was sold at an average price of $241.01, for a total transaction of $11,970,966.70.

Axsome Therapeutics Stock Up 1.2%

Axsome Therapeutics stock traded up $2.61 during mid-day trading on Friday, hitting $212.74. 1,024,411 shares of the company's stock were exchanged, compared to its average volume of 766,407. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The stock has a market cap of $10.95 billion, a P/E ratio of -57.03 and a beta of 0.65. Axsome Therapeutics, Inc. has a 1-year low of $102.67 and a 1-year high of $260.19. The stock has a 50 day moving average of $237.39 and a two-hundred day moving average of $203.90.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The company had revenue of $191.20 million for the quarter, compared to the consensus estimate of $191.10 million. The business's quarterly revenue was up 57.4% compared to the same quarter last year. As a group, analysts anticipate that Axsome Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AXSM has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Axsome Therapeutics in a research note on Friday, July 17th. BMO Capital Markets initiated coverage on Axsome Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $310.00 target price for the company. Jefferies Financial Group reiterated a "buy" rating and set a $380.00 price target on shares of Axsome Therapeutics in a report on Thursday, June 11th. Robert W. Baird lifted their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the company an "outperform" rating in a research report on Tuesday, May 5th. Finally, Mizuho reduced their price objective on shares of Axsome Therapeutics from $310.00 to $306.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $265.55.

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently made changes to their positions in AXSM. Franklin Street Advisors Inc. NC bought a new stake in Axsome Therapeutics during the 4th quarter valued at approximately $1,826,000. Pictet Asset Management Holding SA lifted its holdings in shares of Axsome Therapeutics by 20.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 436,063 shares of the company's stock worth $79,643,000 after buying an additional 73,925 shares during the last quarter. Norges Bank acquired a new position in shares of Axsome Therapeutics during the fourth quarter worth approximately $90,490,000. Axiom Investors LLC DE boosted its position in shares of Axsome Therapeutics by 28.7% in the fourth quarter. Axiom Investors LLC DE now owns 63,390 shares of the company's stock valued at $11,578,000 after acquiring an additional 14,137 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Axsome Therapeutics by 2,553.8% in the fourth quarter. M&T Bank Corp now owns 49,466 shares of the company's stock valued at $8,277,000 after acquiring an additional 47,602 shares during the period. Institutional investors and hedge funds own 81.49% of the company's stock.

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.

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