Axsome Therapeutics (NASDAQ:AXSM) Director Mark Coleman Sells 6,000 Shares

Key Points

• Axsome Therapeutics director Mark Coleman sold 6,000 shares on June 1 at an average price of $230.30, totaling about $1.38 million. After the sale, he still held 35,140 shares, worth roughly $8.09 million.
• Coleman also made two other recent sales, including 5,537 shares on June 2 and 6,000 shares on May 29, indicating a series of insider transactions in a short period.
• Axsome shares fell to $222.16 in Tuesday trading after the insider sale news. The stock has been volatile, but analysts still mostly rate it a Moderate Buy with an average target price of $251.26.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) Director Mark Coleman sold 6,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $230.30, for a total transaction of $1,381,800.00. Following the transaction, the director owned 35,140 shares of the company's stock, valued at approximately $8,092,742. The trade was a 14.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mark Coleman also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Coleman sold 5,537 shares of Axsome Therapeutics stock. The shares were sold at an average price of $223.39, for a total transaction of $1,236,910.43.
• On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The shares were sold at an average price of $233.46, for a total transaction of $1,400,760.00.

Axsome Therapeutics Stock Performance

AXSM traded down $8.09 during trading on Tuesday, hitting $222.16. 603,813 shares of the company traded hands, compared to its average volume of 694,341. The firm has a market cap of $11.43 billion, a P/E ratio of -59.56 and a beta of 0.59. Axsome Therapeutics, Inc. has a one year low of $96.09 and a one year high of $238.56. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27. The stock's fifty day moving average is $196.96 and its 200 day moving average is $176.15.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The business had revenue of $191.20 million for the quarter, compared to analysts' expectations of $191.10 million. Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm's revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts predict that Axsome Therapeutics, Inc. will post -2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $272.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Royal Bank Of Canada increased their price target on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Axsome Therapeutics in a report on Monday, April 20th. Robert W. Baird increased their price target on shares of Axsome Therapeutics from $241.00 to $246.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, Truist Financial raised shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.26.

Institutional Investors Weigh In On Axsome Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company's stock valued at $507,739,000 after purchasing an additional 235,626 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Axsome Therapeutics by 45.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,509,870 shares of the company's stock valued at $275,763,000 after purchasing an additional 472,422 shares in the last quarter. Wellington Management Group LLP raised its stake in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock valued at $162,082,000 after purchasing an additional 609,516 shares in the last quarter. Invesco Ltd. raised its stake in Axsome Therapeutics by 28.6% in the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company's stock valued at $232,591,000 after purchasing an additional 282,937 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company's stock valued at $184,544,000 after purchasing an additional 12,549 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

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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