Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $1,518,062.16 in Stock

Key Points

• Axsome Therapeutics CEO Herriot Tabuteau sold 12,774 shares for approximately $1.52 million on October 8, representing a 63.86% decrease in his ownership stake.
• The company's stock price reached $118.71 during trading, with a market capitalization of $5.92 billion and a price-to-earnings ratio of -23.41.
• Analysts maintain a consensus rating of "Buy" for Axsome Therapeutics, with a consensus target price of $177.93.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 12,774 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $118.84, for a total transaction of $1,518,062.16. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at $859,094.36. This represents a 63.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, October 7th, Herriot Tabuteau sold 13,390 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.77, for a total transaction of $1,590,330.30.
• On Monday, October 6th, Herriot Tabuteau sold 19,220 shares of Axsome Therapeutics stock. The stock was sold at an average price of $120.17, for a total transaction of $2,309,667.40.
• On Tuesday, September 16th, Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock. The shares were sold at an average price of $114.19, for a total value 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 value of $3,319,816.72.
• On Monday, September 15th, Herriot Tabuteau sold 15,254 shares of Axsome Therapeutics stock. The stock was sold at an average price of $117.37, for a total value of $1,790,361.98.

Axsome Therapeutics Price Performance

Axsome Therapeutics stock traded up $0.07 during midday trading on Wednesday, reaching $118.71. 336,029 shares of the company were exchanged, compared to its average volume of 486,038. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.51 and a current ratio of 1.57. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of -23.41 and a beta of 0.52. The firm's 50-day simple moving average is $116.04 and its 200-day simple moving average is $110.03. Axsome Therapeutics, Inc. has a 1 year low of $75.56 and a 1 year high of $139.13.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last issued its 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. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%.The business had revenue of $150.04 million during the quarter, compared to analysts' expectations of $140.02 million. On average, analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AXSM shares. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research note on Tuesday, June 10th. B. Riley started coverage on Axsome Therapeutics in a research note on Wednesday, October 1st. They set a "buy" rating and a $179.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $150.00 price objective on shares of Axsome Therapeutics in a report on Monday, August 4th. Wells Fargo & Company raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Bank of America raised their target price on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $177.93.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $25,000. NBC Securities Inc. bought a new position in shares of Axsome Therapeutics during the 1st quarter worth approximately $31,000. Quantbot Technologies LP acquired a new stake in Axsome Therapeutics during the 1st quarter worth approximately $31,000. AlphaQuest LLC acquired a new stake in Axsome Therapeutics during the 1st quarter worth approximately $38,000. Finally, Neo Ivy Capital Management acquired a new stake in Axsome Therapeutics during the 1st quarter worth approximately $41,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

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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