Nick Pizzie Sells 33,000 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) CFO Nick Pizzie sold 33,000 shares of Axsome Therapeutics stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $240.09, for a total transaction of $7,922,970.00. Following the sale, the chief financial officer owned 42,867 shares of the company’s stock, valued at approximately $10,291,938.03. This represents a 43.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Axsome Therapeutics Trading Up 4.5%

Shares of NASDAQ:AXSM traded up $10.50 during trading on Tuesday, hitting $245.64. 917,980 shares of the company’s stock were exchanged, compared to its average volume of 698,516. Axsome Therapeutics, Inc. has a 1-year low of $96.09 and a 1-year high of $246.41. The firm has a 50-day moving average price of $204.08 and a two-hundred day moving average price of $179.27. 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 firm has a market cap of $12.64 billion, a P/E ratio of -65.86 and a beta of 0.61.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.41). Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.The business had revenue of $191.20 million for the quarter, compared to analyst estimates of $191.10 million. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Axsome Therapeutics, Inc. will post -2.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Axsome Therapeutics by 6.0% in the third quarter. Vanguard Group Inc. now owns 4,180,646 shares of the company’s stock valued at $507,739,000 after buying an additional 235,626 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Axsome Therapeutics by 45.5% in 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 in the last quarter. Wellington Management Group LLP lifted its stake in Axsome Therapeutics by 84.1% in the third quarter. Wellington Management Group LLP now owns 1,334,560 shares of the company’s stock valued at $162,082,000 after buying an additional 609,516 shares in the last quarter. Invesco Ltd. lifted its stake in Axsome Therapeutics by 28.6% in the fourth quarter. Invesco Ltd. now owns 1,273,494 shares of the company’s stock valued at $232,591,000 after buying an additional 282,937 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Axsome Therapeutics by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,010,249 shares of the company’s stock valued at $184,544,000 after buying an additional 12,549 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AXSM. Needham & Company LLC boosted their price objective on shares of Axsome Therapeutics from $225.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. HC Wainwright restated a “buy” rating on shares of Axsome Therapeutics in a report on Thursday, June 4th. Oppenheimer set a $280.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. Wolfe Research began coverage on shares of Axsome Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $230.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating and set a $258.00 price objective on shares of Axsome Therapeutics in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Axsome Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $251.26.

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.