Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $3,319,816.72 in Stock

Key Points

• Axsome Therapeutics CEO Herriot Tabuteau sold 27,907 shares of stock for a total of $3,319,816.72, reducing his ownership by 79.43%.
• The company's stock price has seen a 12-month high of $139.13 and a 12-month low of $75.56, currently trading around $114.10.
• Axsome Therapeutics recently reported a quarterly revenue of $150.04 million, exceeding estimates, but had a net margin of -49.88%.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 27,907 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $118.96, for a total transaction of $3,319,816.72. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $859,961.84. This trade represents a 79.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, September 16th, Herriot Tabuteau sold 19,719 shares of Axsome Therapeutics stock. The shares were sold at an average price of $114.19, for a total transaction of $2,251,712.61.
• On Monday, September 15th, Herriot Tabuteau sold 15,254 shares of Axsome Therapeutics stock. The shares were sold at an average price of $117.37, for a total transaction of $1,790,361.98.

Axsome Therapeutics Stock Performance

NASDAQ AXSM traded down $2.68 during trading on Friday, hitting $115.95. 616,545 shares of the company's stock traded hands, compared to its average volume of 570,324. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of -22.87 and a beta of 0.54. Axsome Therapeutics, Inc. has a 12-month low of $75.56 and a 12-month high of $139.13. 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 business has a 50 day moving average of $112.88 and a 200-day moving average of $110.44.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. The business had revenue of $150.04 million for the quarter, compared to the consensus estimate of $140.02 million. Axsome Therapeutics had a negative net margin of 49.88% and a negative return on equity of 283.22%. As a group, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America upped their price target on Axsome Therapeutics from $173.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. HC Wainwright reiterated a "buy" rating and set a $180.00 price target on shares of Axsome Therapeutics in a research report on Tuesday, June 10th. Morgan Stanley initiated coverage on shares of Axsome Therapeutics in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $190.00 price objective on the stock. Royal Bank Of Canada upped their price objective 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $150.00 price objective on shares of Axsome Therapeutics in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat.com, Axsome Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $177.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew 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 worth $73,176,000 after purchasing an additional 623,717 shares during the last quarter. Norges Bank bought a new position in shares of Axsome Therapeutics in the second quarter worth approximately $48,889,000. Nuveen LLC bought a new position in shares of Axsome Therapeutics in the first quarter worth approximately $48,185,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Axsome Therapeutics by 831.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 447,000 shares of the company's stock worth $46,662,000 after purchasing an additional 399,000 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new stake in Axsome Therapeutics in the second quarter valued at $38,740,000. 81.49% of the stock is currently owned by institutional investors.

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.