Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Sells $2,069,000.00 in Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) COO Mark L. Jacobson sold 20,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $103.45, for a total value of $2,069,000.00. Following the completion of the transaction, the chief operating officer now owns 5,783 shares in the company, valued at $598,251.35. The trade was a 77.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Axsome Therapeutics Trading Up 2.5%

NASDAQ:AXSM traded up $2.68 on Monday, reaching $107.84. The company's stock had a trading volume of 135,653 shares, compared to its average volume of 835,188. Axsome Therapeutics, Inc. has a 1-year low of $64.11 and a 1-year high of $139.13. The business's 50-day moving average price is $106.72 and its two-hundred day moving average price is $106.21. The firm has a market cap of $5.31 billion, a PE ratio of -17.91 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.04 and a current ratio of 2.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AXSM shares. Bank of America upped their price target on Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and set a $153.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on shares of Axsome Therapeutics in a report on Monday, April 7th. They issued a "buy" rating and a $200.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $180.00 target price on shares of Axsome Therapeutics in a report on Thursday, May 22nd. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price target (up previously from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $172.14.

Hedge Funds Weigh In On Axsome Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of AXSM. Assenagon Asset Management S.A. boosted its holdings in shares of Axsome Therapeutics by 16,852.7% in the first quarter. Assenagon Asset Management S.A. now owns 627,418 shares of the company's stock valued at $73,176,000 after buying an additional 623,717 shares during the period. Boxer Capital Management LLC acquired a new position in Axsome Therapeutics in the 4th quarter worth $39,767,000. Lazard Asset Management LLC increased its holdings in Axsome Therapeutics by 525.7% during the 4th quarter. Lazard Asset Management LLC now owns 537,669 shares of the company's stock worth $45,492,000 after purchasing an additional 451,737 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $48,185,000. Finally, Norges Bank acquired a new stake in shares of Axsome Therapeutics in the 4th quarter valued at about $34,100,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

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.