Axsome Therapeutics (NASDAQ:AXSM) Director Mark Coleman Sells 6,000 Shares

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 6,000 shares of Axsome Therapeutics stock in a transaction on Friday, May 29th. The shares were sold at an average price of $233.46, for a total value of $1,400,760.00. Following the completion of the transaction, the director owned 41,140 shares of the company’s stock, valued at approximately $9,604,544.40. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mark Coleman also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Coleman sold 5,537 shares of Axsome Therapeutics stock. The shares were sold at an average price of $223.39, for a total value of $1,236,910.43.
• On Monday, June 1st, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The shares were sold at an average price of $230.30, for a total value of $1,381,800.00.

Axsome Therapeutics Stock Down 3.5%

NASDAQ:AXSM traded down $8.09 during midday trading on Tuesday, reaching $222.16. The company had a trading volume of 603,813 shares, compared to its average volume of 694,341. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of -59.56 and a beta of 0.59. The stock’s fifty day simple moving average is $196.96 and its 200-day simple moving average is $176.15. Axsome Therapeutics, Inc. has a 12-month low of $96.09 and a 12-month high of $238.56. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last released its earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (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 company had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.10 million. The company’s revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Axsome Therapeutics, Inc. will post -2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AXSM shares. Morgan Stanley lifted their price objective on shares of Axsome Therapeutics from $217.00 to $242.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. HC Wainwright raised their price target on Axsome Therapeutics from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Truist Financial raised Axsome Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Needham & Company LLC increased their price objective on Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Axsome Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $251.26.

Institutional Investors Weigh In On Axsome Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Axsome Therapeutics by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,923 shares of the company’s stock valued at $2,557,000 after acquiring an additional 1,002 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Axsome Therapeutics by 2,407.9% during the first quarter. Jones Financial Companies Lllp now owns 7,624 shares of the company’s stock worth $889,000 after purchasing an additional 7,320 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Axsome Therapeutics by 38.7% during the first quarter. Goldman Sachs Group Inc. now owns 301,718 shares of the company’s stock worth $35,189,000 after purchasing an additional 84,151 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Axsome Therapeutics in the 1st quarter valued at about $307,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Axsome Therapeutics by 29.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,892 shares of the company’s stock valued at $8,735,000 after purchasing an additional 17,250 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

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.