Mark Coleman Sells 643 Shares of Axsome Therapeutics (NASDAQ:AXSM) Stock

Axsome Therapeutics, Inc. (NASDAQ:AXSM) Director Mark Coleman sold 643 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $249.00, for a total value of $160,107.00. Following the sale, the director owned 30,389 shares of the company’s stock, valued at $7,566,861. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 2nd, Mark Coleman sold 5,537 shares of Axsome Therapeutics stock. The stock was 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 stock was sold at an average price of $230.30, for a total value of $1,381,800.00.
• On Friday, May 29th, Mark Coleman sold 6,000 shares of Axsome Therapeutics stock. The stock was sold at an average price of $233.46, for a total value of $1,400,760.00.

Axsome Therapeutics Trading Up 3.0%

Shares of Axsome Therapeutics stock opened at $253.77 on Friday. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of -68.03 and a beta of 0.61. Axsome Therapeutics, Inc. has a 52-week low of $96.09 and a 52-week high of $257.44. The company’s 50-day simple moving average is $209.27 and its 200-day simple moving average is $181.43. The company has a quick ratio of 1.32, a current ratio of 1.39 and a debt-to-equity ratio of 2.27.

Axsome Therapeutics (NASDAQ:AXSM) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.41). The firm had revenue of $191.20 million for the quarter, compared to analysts’ expectations of $191.10 million. Axsome Therapeutics had a negative return on equity of 267.16% and a negative net margin of 26.59%.Axsome Therapeutics’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Axsome Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AXSM. Wellington Management Group LLP increased its holdings 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. First Trust Advisors LP increased its holdings in Axsome Therapeutics by 1,230.2% in the first quarter. First Trust Advisors LP now owns 577,479 shares of the company’s stock valued at $97,606,000 after buying an additional 534,066 shares in the last quarter. Norges Bank purchased a new position in Axsome Therapeutics in the fourth quarter valued at about $90,490,000. Price T Rowe Associates Inc. MD increased its holdings 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. Finally, Invesco Ltd. increased its holdings in Axsome Therapeutics by 73.3% in the third quarter. Invesco Ltd. now owns 990,557 shares of the company’s stock valued at $120,303,000 after buying an additional 419,008 shares in the last quarter. 81.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial raised shares of Axsome Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Wolfe Research assumed coverage on shares of Axsome Therapeutics in a report on Monday, February 23rd. They set an “outperform” rating and a $230.00 price target for the company. Royal Bank Of Canada increased their price target on shares of Axsome Therapeutics from $242.00 to $302.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $272.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $258.00 price target on shares of Axsome Therapeutics in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $256.79.

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.