Axsome Therapeutics, Inc. (NASDAQ:AXSM) COO Mark L. Jacobson Sells 20,673 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) COO Mark L. Jacobson sold 20,673 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $104.66, for a total transaction of $2,163,636.18. Following the completion of the sale, the chief operating officer now owns 5,783 shares in the company, valued at $605,248.78. The trade was a 78.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Axsome Therapeutics Stock Up 0.3%

AXSM traded up $0.28 on Friday, reaching $104.92. 485,793 shares of the company traded hands, compared to its average volume of 687,208. The stock's 50 day moving average price is $106.72 and its 200-day moving average price is $106.09. Axsome Therapeutics, Inc. has a 52-week low of $64.11 and a 52-week high of $139.13. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -17.52 and a beta of 0.46. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Wall Street Analysts Forecast Growth

AXSM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Axsome Therapeutics in a report on Tuesday, February 11th. They issued a "buy" rating and a $176.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of Axsome Therapeutics from $190.00 to $193.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Truist Financial boosted their target price on shares of Axsome Therapeutics from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a report on Tuesday, May 6th. Finally, Leerink Partners boosted their price target on shares of Axsome Therapeutics from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, February 10th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $172.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BVF Inc. IL increased its stake in shares of Axsome Therapeutics by 21.8% during the 1st quarter. BVF Inc. IL now owns 1,690,221 shares of the company's stock worth $197,130,000 after purchasing an additional 302,157 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Axsome Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 912,538 shares of the company's stock worth $77,228,000 after acquiring an additional 4,079 shares during the period. Invesco Ltd. increased its position in shares of Axsome Therapeutics by 23.8% during the 1st quarter. Invesco Ltd. now owns 857,001 shares of the company's stock worth $99,952,000 after purchasing an additional 164,537 shares in the last quarter. Wellington Management Group LLP increased its position in Axsome Therapeutics by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 703,279 shares of the company's stock valued at $82,023,000 after acquiring an additional 30,122 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in Axsome Therapeutics by 3.2% in the 4th quarter. Hood River Capital Management LLC now owns 644,785 shares of the company's stock valued at $54,555,000 after acquiring an additional 19,701 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, 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.