Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $1,590,330.30 in Stock

Key Points

• Axsome Therapeutics CEO Herriot Tabuteau sold 13,390 shares of the company’s stock for approximately $1.59 million, representing a 64.94% decrease in his ownership position.
• Following the sale, Tabuteau retains 7,229 shares of Axsome Therapeutics stock, valued at about $858,588.
• The company's stock has a current market capitalization of $5.92 billion, with a one-year price range between $75.56 and $139.13.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 13,390 shares of the firm's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $118.77, for a total transaction of $1,590,330.30. Following the transaction, the chief executive officer owned 7,229 shares of the company's stock, valued at approximately $858,588.33. This represents a 64.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, October 8th, Herriot Tabuteau sold 12,774 shares of Axsome Therapeutics stock. The stock was sold at an average price of $118.84, for a total transaction of $1,518,062.16.
• 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 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.
• 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 transaction of $1,790,361.98.

Axsome Therapeutics Price Performance

AXSM traded up $0.07 during midday trading on Wednesday, reaching $118.71. 336,029 shares of the company's stock were exchanged, compared to its average volume of 486,038. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of -23.41 and a beta of 0.52. 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 one year low of $75.56 and a one year high of $139.13. The business has a 50-day simple moving average of $116.04 and a two-hundred day simple moving average of $110.03.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.92) 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 analyst estimates of $140.02 million. Axsome Therapeutics had a negative return on equity of 283.22% and a negative net margin of 49.88%. As a group, research analysts predict that Axsome Therapeutics, Inc. will post -2.79 EPS for the current year.

Institutional Trading of Axsome Therapeutics

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $25,000. NBC Securities Inc. bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $31,000. Quantbot Technologies LP bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $31,000. AlphaQuest LLC bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $38,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Axsome Therapeutics in the 1st quarter valued at $41,000. Institutional investors own 81.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AXSM shares. Morgan Stanley started coverage on Axsome Therapeutics in a research report on Thursday, July 3rd. They set an "overweight" rating and a $190.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Axsome Therapeutics in a research report on Monday, August 4th. Royal Bank Of Canada increased their price target on Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Wells Fargo & Company raised Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Bank of America upped their price objective on Axsome Therapeutics from $173.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $177.93.

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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