Herriot Tabuteau Sells 19,220 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Key Points

• CEO Herriot Tabuteau sold a total of 19,220 shares of Axsome Therapeutics stock for approximately $2.31 million, decreasing his ownership by 72.67%.
• Axsome Therapeutics reported a negative net margin of 49.88% and a revenue of $150.04 million last quarter, exceeding analysts' expectations.
• Analyst ratings for Axsome Therapeutics are largely positive, with an average rating of "Buy" and a consensus target price of $177.93.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 19,220 shares of the business's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $120.17, for a total transaction of $2,309,667.40. Following the completion of the transaction, the chief executive officer directly owned 7,229 shares of the company's stock, valued at approximately $868,708.93. This represents a 72.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 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 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

Shares of NASDAQ AXSM traded up $0.07 during trading on Wednesday, reaching $118.71. The company had a trading volume of 336,029 shares, compared to its average volume of 486,038. Axsome Therapeutics, Inc. has a 52 week low of $75.56 and a 52 week high of $139.13. The business's 50 day moving average price is $116.04 and its 200-day moving average price is $110.03. 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 stock has a market cap of $5.92 billion, a PE ratio of -23.41 and a beta of 0.52.

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

Hedge Funds Weigh In On Axsome Therapeutics

Several large investors have recently modified their holdings of the stock. Moors & Cabot Inc. raised its position in shares of 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 purchasing an additional 100 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 107 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of 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 acquiring an additional 136 shares in the last quarter. Assetmark Inc. grew its stake in shares of 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 acquiring an additional 137 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in shares of 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 acquiring an additional 180 shares in the last quarter. 81.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXSM. Royal Bank Of Canada lifted their price target on shares of Axsome Therapeutics from $184.00 to $189.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. 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 report on Tuesday, August 5th. B. Riley started coverage on shares of Axsome Therapeutics in a report on Wednesday, October 1st. They set a "buy" rating and a $179.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $180.00 price objective on shares of Axsome Therapeutics in a report on Tuesday, June 10th. Finally, Wells Fargo & Company upgraded shares of Axsome Therapeutics to a "strong-buy" rating in a report on Wednesday, September 3rd. Two research 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $177.93.

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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