Insider Selling: Axsome Therapeutics (NASDAQ:AXSM) CEO Sells $9,541,298.04 in Stock

Key Points

• CEO Herriot Tabuteau sold 45,004 Axsome shares for approximately $9.54 million at an average price of $212.01, reducing his direct ownership by 86.16% to 7,229 shares. He also reported additional sales in June, July and August.
• Axsome’s stock recently traded near $212.74, while the company reported quarterly revenue of $191.2 million—up 57.4% year over year—but missed analysts’ EPS expectations with a loss of $1.26 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $265.55; institutional investors own 81.49% of the company’s shares.

Axsome Therapeutics, Inc. (NASDAQ:AXSM - Get Free Report) CEO Herriot Tabuteau sold 45,004 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $212.01, for a total value of $9,541,298.04. Following the sale, the chief executive officer directly owned 7,229 shares in the company, valued at approximately $1,532,620.29. This trade represents a 86.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Thursday, August 6th, Herriot Tabuteau sold 4,660 shares of Axsome Therapeutics stock. The stock was sold at an average price of $213.95, for a total transaction of $997,007.00.
• On Wednesday, July 1st, Herriot Tabuteau sold 49,666 shares of Axsome Therapeutics stock. The shares were sold at an average price of $240.25, for a total value of $11,932,256.50.
• On Tuesday, June 9th, Herriot Tabuteau sold 49,670 shares of Axsome Therapeutics stock. The stock was sold at an average price of $241.01, for a total value of $11,970,966.70.

Axsome Therapeutics Price Performance

AXSM traded up $2.61 on Friday, reaching $212.74. The stock had a trading volume of 1,024,411 shares, compared to its average volume of 766,407. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of -57.03 and a beta of 0.65. Axsome Therapeutics, Inc. has a fifty-two week low of $102.67 and a fifty-two week high of $260.19. The firm has a 50-day moving average of $237.39 and a 200-day moving average of $203.90.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.41). Axsome Therapeutics had a negative net margin of 26.59% and a negative return on equity of 267.16%. The firm had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. Axsome Therapeutics's revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.48 EPS for the current year.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXSM. BlackRock Inc. bought a new position in shares of Axsome Therapeutics during the 2nd quarter worth approximately $759,695,000. Wellington Management Group LLP lifted its holdings in Axsome Therapeutics by 84.1% during the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company's stock worth $162,082,000 after acquiring an additional 609,516 shares during the period. First Trust Advisors LP grew its stake in Axsome Therapeutics by 1,230.2% in the 1st quarter. First Trust Advisors LP now owns 577,479 shares of the company's stock valued at $97,606,000 after purchasing an additional 534,066 shares during the period. Norges Bank purchased a new stake in shares of Axsome Therapeutics during the 4th quarter valued at $90,490,000. Finally, Price T Rowe Associates Inc. MD grew its position in Axsome Therapeutics by 45.5% during 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 buying an additional 472,422 shares during the period. 81.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AXSM has been the topic of a number of research reports. Guggenheim boosted their target price on shares of Axsome Therapeutics from $245.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, May 4th. TD Cowen raised their price target on shares of Axsome Therapeutics from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Mizuho cut their price target on shares of Axsome Therapeutics from $310.00 to $306.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Wells Fargo & Company increased their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $380.00 target price on shares of Axsome Therapeutics in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $265.55.

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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